Gunvor to buy, operate Antwerp refinery

March 2, 2012

Gunvor Group, a trading and logistics company registered in Nicosia, Cyprus, said it successfully bid to buy the 107,500 b/d refinery that financially strapped Petroplus Holdings AG has shut down in Antwerp, Belgium (OGJ Online, Dec. 30, 2011).

Bob Tippee

Gunvor said it will operate the refinery “on a long-term basis” and will retain all current workers.

Assets of Petroplus Holdings are being restructured under judicial administration.

The company also idled its refineries in Petit Couronne, France, and Cressier, Switzerland.

About the Author

Bob Tippee | Editor

Bob Tippee has been chief editor of Oil & Gas Journal since January 1999 and a member of the Journal staff since October 1977. Before joining the magazine, he worked as a reporter at the Tulsa World and served for four years as an officer in the US Air Force. A native of St. Louis, he holds a degree in journalism from the University of Tulsa.