"There is no factual basis to the claim of Saudi Aramco involvement," the company said in an e-mailed statement. On Wednesday, a spokesman for a group of investors vying for the Wilhelmshaven 260,000 barrels-per-day (bpd) refinery said "a trust has sought the refinery for Aramco."

ConocoPhillips said in July 2010 it would either sell the refinery or turn it into an oil distribution terminal as part of its strategy of cutting downstream operations and output has been stopped.