By Konstantin Rozhnov Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- There is still no confirmed deal for Petroplus Holdings AG's (PPHN.EB) Coryton refinery in England although a tolling agreement keeping the facility running after Petroplus's insolvency expires at midnight Wednesday, Richard Howitt, the member of the European parliament for the East of England, said Tuesday. PricewaterhouseCoopers, the administrator of Petroplus's U.K. subsidiaries, wasn't immediately available to comment. Steven Pearson, a joint administrator and partner at PWC, said earlier this month that closure of the 220,000 barrel-a-day refinery remained one of the options--along with selling, refinancing or restructuring the facility--when the current tolling deal expires. Coryton, the only one out of five Petroplus refineries that continued operating after the company lost access to all its credit lines and then filed for insolvency in January, employs around 850 people. Under the tolling deal, Morgan Stanley Capital Group Inc., KKR Asset Management LLC, and AtlasInvest deliver crude to the 220,000 barrel-a-day refinery and receive refined products in return, paying a fee to cover the costs of the administrators. A shipping fixture seen by Dow Jones Newswires earlier this month showed that Morgan Stanley planned to deliver an 80,000-ton cargo to Coryton May 12. One of the tolling deal parties, AtlasInvest, and Vitol Holdings BV agreed earlier this month to buy Petroplus's Cressier refinery in Switzerland. On the same day, commodity trader Gunvor Group announced the completion of its purchase of Petroplus's refinery in Antwerp, Belgium, saying that it would restart the 100,000-barrel-a-day refinery within days. The future of two other idled Petroplus refineries--in France and Germany--remains unclear. -By Konstantin Rozhnov, Dow Jones Newswires; +44 207 842 9956; konstantin.rozhnov@dowjones.com
