Less than a year after a consortium of Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum completed the purchase of a 67,000 b/d two-train refinery in Fujairah from Uniper (MEES, 14 July 2023), Montfort could be heading to the exit.
There have been rumors for months that, hamstrung by limited cash and a struggle to finance crude costs, Montfort has been looking to sell the rebranded ‘Fort Energy’ refinery. Now, Reuters reports that Montfort is in discussions with Chinese state giant Sinopec to sell all or part of its stake in the plant. (CONTINUED - 237 WORDS)
