Bloomberg News

Petroplus Owes Algeria’s Sonatrach $250 Million, Reuters Reports

May 10, 2012

Petroplus Holding AG (PPHN), Europe’s largest independent refiner before filing for insolvency, owes Sonatrach Group more than $250 million for crude sales, Reuters reported, citing an identified Algerian energy official.

The Algerian state oil company hasn’t received payment for several cargoes of crude it delivered to the refiner, according to Reuters.

An official at Wenger Plattner, the administrator of the insolvent refiner, declined to comment if Sonatrach had filed a claim when contacted today by telephone. Angelika Rittner said businesses and individuals can submit claims for any money owed during a six-month period, which closes at the end of September.

To contact the reporter on this story: Rupert Rowling in London at rrowling@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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