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Last updated on April 18, 2014 at 9:25 EDT

Latest Petroplus Stories

2014-03-10 12:22:36

LUANDA, Angola, March 10, 2014 /PRNewswire/ -- Specialising in hydrocarbon exploration and exploitation, PetroPlus Overseas has wasted no time in laying the foundations for its future growth. Today it holds many oil and gas rights in Africa, particularly in Gabon where it has two licences, one of which is very promising and will see its initial exploratory drilling in 2014. Four Africa permits in progress Thanks to its excellent knowledge of the field, PetroPlus...

2012-12-06 04:22:45

INGOLSTADT, Germany, Dec. 6, 2012 /PRNewswire/ -- Affirming its long-term commitment to serving the German market, Gunvor Group ("Gunvor") has acquired a 10 percent stake in the Transalpine Pipeline (TAL), which supplies Gunvor Raffinerie Ingolstadt ("GRI"). This acquisition will allow Gunvor to secure a long-term crude supply to GRI. The deal closed December 4. The Ingolstadt refinery, which Gunvor purchased in August, serves the markets in Southern Germany and Upper Austria, providing an...

2012-09-04 02:33:13

INGOLSTADT, Germany, Sept. 4, 2012 /PRNewswire-USNewswire/ -- Gunvor Raffinerie Ingolstadt GmbH and Gunvor Deutschland GmbH plan to hire about 30 additional employees for various functions at their respective operations. The two former Petroplus businesses restarted on August 24, following the completion of their acquisition by Gunvor Group Ltd, which provides integrated oil and energy trading products and logistics services worldwide. Opportunities currently exist for Process Design and...

2012-08-26 22:21:19

INGOLSTADT, Germany, Aug. 27, 2012 /PRNewswire/ -- Gunvor Group Ltd has commenced operations at the former Petroplus refinery in Ingolstadt, Germany, having completed the acquisition of the refinery assets and relevant marketing activities. All regulatory and merger control approvals have been obtained. The official closing date was on August 23, and the first crude vessel has already discharged to supply the refinery. The German entities, which will retain all of their more than 400...

2012-08-05 22:20:17

GENEVA, Aug. 6, 2012 /PRNewswire/ -- The European Commission has approved regulatory clearance for Gunvor Group Ltd's acquisition of the assets of Petroplus' refinery in Ingolstadt and related German marketing activities. The clearance marks a key milestone for Gunvor in the closing process. Gunvor's purchase of the refinery, which remains subject to additional customary closing conditions and regulatory clearance from competition authorities, is a part of the company's long-term growth and...

2012-07-10 22:20:40

ANTWERP, Belgium, July 11, 2012 /PRNewswire/ -- Gunvor Group Ltd is moving ahead with plans for its new refinery in Belgium, having successfully launched a USD 500 million borrowing base secured revolving credit facility (RFC) to support operations. ING and Rabobank are the two Bookrunning Mandated Lead Arrangers of this facility, which will be used to finance the purchase of crude oil and feedstock for the refinery, i.e., blending products, storage and processing at the refinery's premises,...

2012-07-03 02:21:06

GENEVA, July 3, 2012 /PRNewswire/ -- The Swiss financial publication L'Agefi has profiled Gunvor Group in a recent article entitled "The emergence of a global player," which describes how the "Geneva-based trading company has in a few years become a world leader in energy trading. And more is expected." The article outlines Gunvor's strategy "of vertical integration illustrated by the recent acquisitions of refineries in Antwerp (Belgium) and Ingolstadt (Germany) sold by the now defunct...

2012-06-21 02:21:30

ANTWERP, Belgium, June 21, 2012 /PRNewswire/ -- Gunvor Group CEO Torbjorn Tornqvist this week visited the company's recently acquired refinery, Independent Belgian Refinery NV (IBR), to meet with management and staff and discuss continuing integration with Gunvor's operations. IBR, a former Petroplus asset, is now 100%-owned by Gunvor. Through the May purchase, Gunvor retained all 200-plus IBR employees; however, the Antwerp refinery is currently looking to hire new staff to support its...

2012-06-14 02:21:43

INGOLSTADT, Germany, June 14, 2012 /PRNewswire-USNewswire/ -- More than 200 Petroplus Bavaria employees and members of management welcomed Gunvor Group CEO Torbjorn Tornqvist to the Ingolstadt plant last week. The visit was the first by Tornqvist since Gunvor announced the acquisition of the refinery's assets, which will keep open the plant saving hundreds of jobs. "I am pleased to be here today to share with you our plans for the future," Tornqvist said to the crowd, which included...

2011-10-11 07:00:00

ROTTERDAM, Netherlands, Oct. 11, 2011 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced that Karyn F. Ovelmen has been appointed Executive Vice President and Chief Financial Officer (CFO) replacing Kent Potter who has informed the company of his intent to retire. "Karyn Ovelmen brings a wealth of financial experience in the international energy industry and we are pleased to have her join LyondellBasell," said Chief Executive Officer Jim Gallogly. "I want to express my...