This article may be confusing or unclear to readers. In particular, This article talks about two refineries in Antwerp (all information unsourced); however, the company website lists only one refinery in Antwerp. At the same time, news agencies have reported that Antwerp refinery was bought by Gunvor, so the article is also outdated.. Please help clarify the article. There might be a discussion about this on the talk page.(March 2012) (Learn how and when to remove this template message)
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Petroplus Holdings AG was Europe's largest independent oil refiner by capacity.[1] When the now defunct company was first formed in 1993, it was known as Petroplus International N.V., and was based in the Netherlands. In August 1998, it was listed on the Amsterdam Stock Exchange. In April 2005, it was delisted from the Euronext Amsterdam stock exchange when the company was acquired by a holding company. In November 2006, the company went public on the Swiss Stock Exchange.
In May 2006, it bought the BRC Antwerp Refinery for $511m from Sovereign Holding Ltd (Bermuda).
In March 2007, it bought the Ingolstadt Refinery from ExxonMobil for $425m. In June 2007, it bought the Coryton Refinery near London from BP for $1.4bn.
In April 2008, it bought the Petit Couronne Refinery and Reichstett Refinery, located in France from Shell for $785m.
Financial problems
In December 2011 a $1bn credit line to the company was frozen by its bank lenders. The company was planning to shut down some refineries if negotiations to restore the credit failed. The chief executive said they would do all they could to avoid bankruptcy.[2] On 24 January 2012, Petroplus announced that they were filing for insolvency after it defaulted on $1.75 billion of senior notes and convertible bonds.[3][4]
Former refineries
Antwerp N.V. Refinery (Belgium) sold to VTTI and renamed Antwerp Terminal & Processing Company (ATPC)
petroplus, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, confusing, unclear, readers, particular, this, article, talks, about, refineries, antwerp, inf. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article may be confusing or unclear to readers In particular This article talks about two refineries in Antwerp all information unsourced however the company website lists only one refinery in Antwerp At the same time news agencies have reported that Antwerp refinery was bought by Gunvor so the article is also outdated Please help clarify the article There might be a discussion about this on the talk page March 2012 Learn how and when to remove this template message This article needs to be updated Please help update this article to reflect recent events or newly available information March 2012 This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Petroplus news newspapers books scholar JSTOR March 2012 Learn how and when to remove this template message Learn how and when to remove this template message Petroplus Holdings AG was Europe s largest independent oil refiner by capacity 1 When the now defunct company was first formed in 1993 it was known as Petroplus International N V and was based in the Netherlands In August 1998 it was listed on the Amsterdam Stock Exchange In April 2005 it was delisted from the Euronext Amsterdam stock exchange when the company was acquired by a holding company In November 2006 the company went public on the Swiss Stock Exchange Petroplus AGTypePublicTraded asSIX PPHNIndustryOil and gasFounded1993Defunct2012HeadquartersZug SwitzerlandKey peopleThomas D O Malley CEO Karyn F Ovelmen CFOProductsPetroleumNatural gasMotor fuelsAviation fuelsServicesService stationsRevenueUS 20 billion 2010 Number of employees1 750Websitewww wbr petroplusholdings wbr com Contents 1 Acquisitions 2 Financial problems 3 Former refineries 4 References 5 External linksAcquisitions EditIn 1997 it acquired the Antwerp N V Refinery from the Daewoo Group In May 2000 it bought the Cressier Refinery in Cressier Switzerland from Shell Switzerland In December 2000 it bought the Teesside Refinery in Port Clarence from Phillips Petroleum Company In May 2006 it bought the BRC Antwerp Refinery for 511m from Sovereign Holding Ltd Bermuda In March 2007 it bought the Ingolstadt Refinery from ExxonMobil for 425m In June 2007 it bought the Coryton Refinery near London from BP for 1 4bn In April 2008 it bought the Petit Couronne Refinery and Reichstett Refinery located in France from Shell for 785m Financial problems EditIn December 2011 a 1bn credit line to the company was frozen by its bank lenders The company was planning to shut down some refineries if negotiations to restore the credit failed The chief executive said they would do all they could to avoid bankruptcy 2 On 24 January 2012 Petroplus announced that they were filing for insolvency after it defaulted on 1 75 billion of senior notes and convertible bonds 3 4 Former refineries EditAntwerp N V Refinery Belgium sold to VTTI and renamed Antwerp Terminal amp Processing Company ATPC BRC Antwerp Refinery Belgium sold to Gunvor Coryton Refinery UK closed Cressier Refinery Switzerland sold to Varo Energy Ingolstadt Refinery Germany sold to Gunvor Petit Couronne Refinery France closed Reichstett Refinery France closed Teesside Refinery UK closedReferences Edit Heating Oil Gains on Speculation Europe Diesel Imports to Rise Bloomberg Businessweek Jan 4 2012 Swiss oil refiner Petroplus sees credit lines blocked BBC 2012 01 05 Petroplus set to file for insolvency FT 2012 01 24 Landauro Konstantin Rozhnov And Inti Petroplus to File for Insolvency WSJ Retrieved 2017 11 29 External links EditOfficial website BP sells the Coryton Refinery February 2007 Times article Petroplus at Yahoo Finance 1 Retrieved from https en wikipedia org w index php title Petroplus amp oldid 1115668450, wikipedia, wiki, book, books, library,
