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 at the same time news agencies have reported that antwerp refinery was bought by gunvor so the article is also outdated .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 us clarify the article ; suggestions may be found on the talk page . march 2012 learn how and when to remove this template message this article needs to be updated . please 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 . march 2012 learn how and when to remove this template message learn how and when to remove this template message petroplus ag type public traded as six pphn industry oil and gas 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 www.petroplusholdings.com 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. being 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 . contents 1 acquisitions 2 financial problems 3 former refineries 4 references 5 external links acquisitions edit 1997 in 1997 it acquired the antwerp n.v. refinery from the daewoo group . 2000 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 . 2006 in may 2006 it bought the brc antwerp refinery for 511m from sovereign holding ltd bermuda . 2007 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 1.4 bn . 2008 in april 2008 it bought the petit couronne refinery and reichstett refinery located in france from shell for 785m . financial problems edit 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 the 24th of january 2012 petroplus announced that they are filing for insolvency after it defaulted on 1.75 billion of senior notes and convertible bonds . 3 former refineries edit antwerp n.v. refinery belgium sold to vtti 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 closed references 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 . external links edit official 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 & oldid 656102167 categories petroplusoil and gas companies of switzerlandhidden categories wikipedia articles needing clarification from march 2012all wikipedia articles needing clarificationwikipedia articles in need of updating from march 2012all wikipedia articles in need of updatingarticles needing additional references from march 2012all articles needing additional referencespages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutsch fran ais edit links this page was last modified on 12 april 2015 at 10 27 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view