Iran Group To Bid For Troubled French Refinery

Iranian group Tadbir Energy will submit a bid for the Petit-Couronne oil refinery from insolvent owner Petroplus at a court hearing on Tuesday, French daily Le Figaro said, without citing its sources. Tadbir Energy, a unit of the Imam Khomeini foundation, will offer to buy France's oldest refinery with a guarantee to keep the 550 staff it employs, the paper added. Iranian oil imports are forbidden since July in the European Union, the paper said. Other bidders for the plant located in Normandy, northwest France, include the Libyan Investment Authority and NetOil, a firm led by Middle Eastern businessman Roger Tamraz. Read more.