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.
  

