Gunvor, the global commodities trading company, plans to stop all terminal operations at its Europoort refinery in Rotterdam (Netherlands), a spokesperson for the company said on Wednesday.

Gunvor will consult with the refinery's works council regarding its plans, the spokesperson said.

Seven months ago, the company announced that it would mothball all the processing units and only use the refinery as a terminal.

Gunvor stated that the decision was made due to the "uncertainty of the investment climate in The Netherlands", but did not provide any further details.

The company said that the energy transition projects, which it is currently developing on site, such as a deal with Varo for sustainable aviation fuel production, will not be impacted. (Reporting and editing by David Goodman.)

(source: Reuters)