The Local Switzerland

Petroplus suitor not keen on Swiss refineries

Wed, 01 Feb 2012 16:27:00 +0100

Gary Klesch, head of the Swiss Klesch investment group, is interested in several assets of embattled oil refiner Petroplus but said he had no desire to snap up its Swiss operations.

Petroplus denies fraud allegations

Thu, 26 Jan 2012 17:06:00 +0100

Swiss-based oil refiner Petroplus on Thursday denied French allegations of fraud after prosecutors launched an investigation into the beleaguered firm.

Petroplus subsidiaries file for insolvency

Thu, 26 Jan 2012 09:44:00 +0100

Petroplus, Europe's largest independent oil refiner said late on Wednesday its German susidiaries are to file for insolvency following its decision two days earlier to file for bankruptcy.

Petroplus to file for insolvency

Tue, 24 Jan 2012 09:39:00 +0100

Highly indebted Swiss-based oil refiner Petroplus, after weeks of talks with its creditors, said in a statement on Tuesday it would file for insolvency.

Swiss firm Petroplus to sell French refinery

Fri, 20 Jan 2012 11:39:00 +0100

Swiss-based oil refiner Petroplus, nearly driven to bankruptcy after banks froze its credit lines, said on Friday it would sell its Petit Couronne refinery in north-western France.

Standard & Poor's slashes Petroplus rating

Tue, 17 Jan 2012 15:43:00 +0100

Credit ratings agency Standard and Poor's on Tuesday downgraded its rating for Swiss-based oil refiner Petroplus by three notches due to the increased risk of a default on its short-term debt.

Lenders extend lifeline to cash-strapped Petroplus

Thu, 12 Jan 2012 09:40:00 +0100

Embattled Swiss-based Petroplus said Wednesday that lenders had agreed to temporarily provide vital cash flows to keep two of its oil refineries running in Britain and Germany.

Petroplus credit lines frozen by banks

Thu, 05 Jan 2012 16:56:00 +0100

Embattled oil refiner Petroplus said on Thursday that lenders had frozen access to its remaining credit lines in a further blow to the firm in the process of shutting down three of its refineries.

Workers worried over Petroplus oil plants

Fri, 30 Dec 2011 11:31:00 +0100

Workers and government officials raised concern on Thursday over the future of five oil refineries owned by Swiss firm Petroplus, currently seeking to restore $1 billion in frozen credit lines.