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The chief executive of Petroplus has not ruled out the possibility of future refinery acquisitions in order to become more competitive.

In an interview with Swiss newspaper Finanz und Wirtschaft, Jean-Paul Vettier was quoted as saying that such a move would need to result in a boost in earnings with a profitablity similar to that of its refinery in Coryton.

"Primarily it is not about growth but about becoming more competitive. Ideal would be a facility that contributes a similar amount to our operating profit as our biggest site Coryton, not far from London. Of the refineries on the market only a few fulfil these criteria," Vettier said.

His comments follow the announcement towards the end of February that oil major Total was in talks with three potential buyers regarding the sale of its Lindsey Oil Refinery, located in Immingham, North Lincolnshire.

The plant is currently Britain's third largest, with a processing capacity in excess of 10 million tonnes per annum (over 200,000 barrels per day). The facility, which has the flexibility to process over 40 different types of crude oil, processes fuel oil, bitumen, kerosene, jet fuel, diesel, petrol, LPG and speciality products.

A number of European refineries have gone up for sale as the worldwide economic downturn and competition from cheaper natural gas have weighed on margins.

In 2009, Petroplus itself sold Petroplus Refining Antwerp N.V. and Petroplus Refining Antwerp Bitumen N.V. to Eurotank Belgium B.V., a wholly-owned subsidiary of Vitol Tank Terminals International B.V., part of the Vitol Group of companies.

Last year the company announced that it also intended to cease refining at its Reichstett plant, near Strasbourg, France, which resulted in Petroplus launching a strategic review to evaluate alternatives for the site.

Petroplus continues to be the largest independent refiner and wholesaler of petroleum products in Europe. It currently owns and operates seven refineries across Europe: the Coryton Refinery on the Thames Estuary in the United Kingdom, the Ingolstadt Refinery in Ingolstadt, Germany, the Belgium Refining Corporation Refinery in Antwerp, Belgium, the Petit Couronne Refinery in Petit Couronne, France, the Cressier Refinery in the canton of Neuchâtel, Switzerland, the Reichstett Refinery near Strasbourg, France and the Teesside Refinery in Teesside, United Kingdom.