PORTUGUESE BUSINESS tycoon Patrick Monteiro De Barros is to supply the UK’s main airports with aviation fuel through Petroplus in a deal worth a billion euros.
Barros, a leading shareholder in Petroplus, has bought the Coryton oil refinery located 50km outside London for an estimated 1.07 billion euros.
Last year, Barros was in negotiations with the Minister of the Economy Manuel Pinho for extensive extension works at the oil refinery and terminal at Sines (Alentejo), which fell though at the last moment.
The refinery in England can produce A Grade kerosene aviation fuel to serve airports, such as Heathrow, Gatwick and Stansted via a direct fuel pipeline from the refinery.
Petroplus will help fuel some 724,000 planes a year passing through UK airports, representing 17 per cent of the total business at the refinery now owned by Barros.
With the new business deal, Petroplus in partnership with the Carlyle Group, has become the largest independent oil refining group in Europe, increasing its capacity by 55 per cent to 172,000 oil barrels per day.
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