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This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these 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 At the same time, news agencies have reported that Antwerp refinery was bought by Gunvor, so the article is also outdated..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 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 more citations. 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 message) (Learn how and when to remove this message)

Petroplus AG
Type	Public
Traded as	SIX: PPHN
Industry	Oil and gas
Founded	1993
Defunct	2012
Headquarters	Zug, Switzerland
Key people	Thomas D. O'Malley, CEO Karyn F. Ovelmen, CFO
Products	Petroleum Natural gas Motor fuels Aviation fuels
Services	Service stations
Revenue	US$20 billion (2010)
Number of employees	1,750
Website	petroplusholdings.com (defunct)

Petroplus Holdings AG was Europe's largest independent oil refiner by capacity.^[1] When it 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.^[2]

In 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.^[3]

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.^[4] On 24 January 2012, Petroplus announced that they were filing for insolvency after it defaulted on $1.75bn of senior notes and convertible bonds.^[5][6]

• Antwerp N.V. Refinery (Belgium) sold to VTTI and renamed Antwerp Terminal & Processing Company (ATPC)^[7]
• BRC Antwerp Refinery (Belgium) sold to Gunvor Group^[8]
• Coryton Refinery (UK) closed^[9]
• Cressier Refinery (Switzerland) sold to Varo Energy^[10]
• Ingolstadt Refinery (Germany) sold to Gunvor Group^[11]
• Petit Couronne Refinery (France) closed^[12]
• Reichstett Refinery (France) closed^[13]
• Teesside Refinery (UK) closed^[14]

• Official website
• BP sells the Coryton Refinery
• February 2007 Times article^{[link removed]}
• Petroplus at Yahoo! Finance
• Petroplus - Press Releases