SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
for the period ended 27 June 2006
BP p.l.c.
(Translation of registrant's name into English)
1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F |X| Form 40-F
--------------- ----------------
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No |X|
--------------- ----------------
June 27, 2006
BP TO SELL CORYTON REFINERY IN ESSEX
BP announced today that it has decided to sell its Coryton Refinery in Essex, UK
which processes 172,000 barrels of crude oil a day.
The decision to place the asset on the market follows a review of the company's
European refining portfolio which concluded that maintaining a smaller network
of advantaged refineries in Europe would provide greater benefit to the BP
Group.
"We remain committed to our UK businesses and ensuring that we are able to fully
maintain the supply of fuel products to them will be a key element of the sales
agreement," explains John Manzoni, chief executive of BP's refining and
marketing business. "In particular we will require the buyer to provide a long
term supply agreement and continuing use of the adjacent distribution terminal.
This will also allow us to support and further develop our bio and
differentiated fuels strategies in the UK."
BP is in the process of holding initial discussions with a number of potential
buyers and will commence more detailed negotiations in the next couple of
months. As the refinery is being sold as a going concern there is unlikely to be
any significant impact on jobs.
"Coryton is a well placed and profitable refinery with excellent development
potential which offers an attractive investment opportunity for potential
buyers," said John Manzoni. "At the same time the disposal will enable us to
invest more deeply in our remaining European refineries so that they remain top
class assets."
The sale includes the Coryton distribution terminal, which is adjacent to the
refinery, and BP's UK bitumen business, which is integrated with Coryton.
Notes to Editors:
- Coryton started up in 1953 and currently employs in the region of 540 BP
staff and numerous contractors
- Coryton produces petrol and diesel, including the new 'cleaner' fuels,
aviation fuels, liquefied petroleum gas (LPG), fuel oils and bitumen.
- Excluding Coryton, BP owns or has shareholdings in 8 European refineries,
with its principal refining assets being in Germany, Spain and the
Netherlands.
Further information:
BP Press Office, London, tel: +44 (0)207 496 4358
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BP p.l.c.
(Registrant)
Dated: 27 June 2006 /s/ D. J. PEARL
..............................
D. J. PEARL
Deputy Company Secretary