MONTEDISON, OTHER REFINERIES TO SHUT FOR WORK
Selm-Societa Energia Montedison is to
close its Priolo crude refining units from March 15th to March
28th for maintenance, a company spokesman said.
    Throughput at the refinery is currently estimated at
140-150,000 bpd, although total capacity is nearer 200,000 bpd.
    Several other Mediterranean refineries are currently
shutdown for maintenance, most of which were scheduled some
months ago. But industry sources said that shutdowns may have
been rearranged to avoid running negative-netback crude.
     Tighter availabilities of products as a result of the 
shutdowns in the Med is helping to keep products markets
bullish, particularly for March deliveries, oil traders said.
    Garrone's refinery at San Quirico (capacity 130,000 bpd) is
due to shutdown on March 14th for three weeks, and the
jointly-owned ISAB/Garrone refinery at Mellili, capacity
220,000 bpd, is due to start up around March 20-25th following
its closure for maintenance a month ago, a company spokesman
said.
    The Esso Italiana refineries at Augusta and Siracusa will
not be closing this spring, a spokesman for the company said.
    In France, the distillation unit at Societe Francaise de
BP's Lavera refinery has been closed for maintenance since
March 2, and is due to restart early April. Total capacity is
181,900 bpd. It is currently operating at around 50 pct
capacity, a company spokesman said.
    Shell Francaise's Berre l'Etang refinery will shut down in
early April until mid-June, a company spokesman said. Capacity
is around 150,000 bpd. Compagnie Francaise de Raffinage (CFR)
will close the visbreaker at its La Mede refinery in early
April, but would not affect crude throughput at the refinery, a
company spokesman said. Current capacity is 136,000 bbl/day.
    Despite current bullish sentiment in the Med, however,
traders noted that crude netbacks are beginning to look more
attractive, and most maintenance shutdowns should be finished
in two to three weeks.
    As a result, oil industry sources suggest that the
situation may ease by mid-April.
 Reuter
