In 1993 Marcel van Poecke and Willem Willemstein started to build Petroplus, an independent oil company, specialising in refining, storage and marketing. As an independent player it focuses on niches in the European market and adds variety to the competitive landscape of the oil industry.
Petroplus International NV has been listed on the Amsterdam stock exchange (Euronext Amsterdam NV) since 14 July 1998.
Since it was established 10 years ago, Petroplus has developed into an important player in the European midstream oil market. The midstream sector encompasses refining, marketing and logistics. To date, Petroplus has been characterised by rapid growth in a mature market, achieved by raising finance through the capital markets. In the course of 2002, conditions in the global capital markets deteriorated rapidly. For the time being, access to the financial instruments that Petroplus relied upon in recent years is proving more difficult. Over the next few years Petroplus aims to achieve further growth autonomously and through smaller acquisitions that will be financed privately or from its own resources. The recently finalised transactions with AB Nynas Petroleum (Nynas) are examples of this approach. Petroplus has built up a pan-European portfolio of activities. In Belgium, Switzerland and the United Kingdom the group is active throughout the entire midstream market. In Germany and The Netherlands, only the Marketing and Logistics divisions are active. Petroplus, together with its subsidiaries North Sea Petroleum and Frisol, is one of the largest suppliers of fuel and lubricants to European inland shipping as well as sea-going and coastal shipping.
Petroplus started in 2001 with the Tango formula of selling fuel to motorists from unmanned filling stations. The Tango-formula of "Tank and Go" has proven to be a very attractive alternative to manned filling stations. Petroplus sold the Tango activities to Kuwait Petroleum (Q8) in February 2004 and realised a significant book profit though this sale.