Petroplus
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| Petroplus AG | |
|---|---|
| Type | Public (SWX: PPHN) |
| Founded | 1993 |
| Headquarters | Zug, Switzerland  |
| Key people | Thomas D. O'Malley, CEO Karyn F. Ovelmen, CFO |
| Industry | Oil and gas |
| Products | Oil Natural gas Petrochemicals |
| Revenue | ▲ [US$]]6.923 billion (2006) |
| Net income | ▲ US$179.5 million (2006) |
| Employees | 1,750 |
| Website | www.petroplusholdings.com |
Petroplus is a Swiss oil company. It is the largest independent oil refining company in Western Europe.
Contents |
[edit] History
The company started out as Petroplus International N.V. being based in the Netherlands. In 1997, it acquired the Antwerp N.V. Refinery from the Daewoo Group. In August 1998, it was listed on the Amsterdam Stock Exchange. 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 Imperial Petroleum Ltd. In April 2005, it was delisted from the Euronext Amsterdam stock exchange when the company was acquired by a holding company. In May 2006, it bought the BRC Antwerp Refinery for $511m from Sovereign Holding Ltd (Bermuda). In November 2006, the company went public on the Swiss Stock Exchange or SWX. In March 2007, it bought the Ingolstadt Refinery from ExxonMobil for $425m. In June 2007, it bought the Coryton Refinery from BP for $1.4bn. In April 2008, it bought the Petit Couronne and Reichstett Vendenheim Refineries, located in France from Shell for $785m.
The company operates its assets in the European markets and as such is exposed to currency fluctuations against the US dollar - the currency in which it buys crude and sells refined products.
[edit] Refineries
- Antwerp N.V. Refinery (Belgium)
- BRC Antwerp (Belgium)
- Cressier Refinery (Switzerland)
- Coryton Refinery (UK)
- Port Clarence Refinery (Teesside Refinery) (UK)
- Ingoldstadt Refinery (Germany)
- Petit Couronne and Reichstett Vendenheim Refineries (France)
