When does Fawley go and who is buying?
5 replies (most recent on top)
Traf
@ah Let’s not be fooled about North Atlantic Refining being Canadian… or a refiner any more.
Although they operate service stations in Atlantic Canada, they sold their refinery at Come by Chance Newfoundland to US based private equity group Cresta Fund Management. It was renamed Braya Renewable Fuels and converted it a biofuels operation.
North Atlantic is 100% owned by New York-based alternative asset manager SilverRange Capital Partners.
I wish I could be acquired. What I would do to be sold off and get out of this place. What happens to your pension when you are sold?
Congrats to Fawley employees, you will be treated better under new owner.
North Atlantic Refining Corporation was rumored to be acquiring Fawley after the French acquisition.
ExxonMobil to Sell French Refinery to North Atlantic for Strategic Overhaul
ECHEMI 2025-06-16
ExxonMobil announced plans to sell its Gravenchon refinery, France’s second-largest refinery, to Canada’s North Atlantic Refining Corporation. The two companies have entered exclusive negotiations, with the deal expected to move forward in the first quarter of 2026. The transaction includes 82.89% of Esso France and 100% of ExxonMobil France Chemicals.
Per French law, the sale will be subject to local labor union reviews. This follows ExxonMobil’s divestment of other French assets in 2024, including its Fos-sur-Mer refinery near Marseille and fuel terminals in Toulouse and Vilette. The Gravenchon refinery has struggled with profitability, reporting losses exceeding €500 million since 2018, despite efforts to improve efficiency.
North Atlantic has stated its vision to transform Gravenchon into an energy and industrial hub for France over the coming decades, aiming to establish itself as a transatlantic energy leader.
https://www.echemi.com/cms/2450286.html