Petroplus Oil Supply ‘Uncertain’ on Loan Freeze, Union Says
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Petroplus Holdings AG, Europe’s largest independent refiner, is in talks with lenders to get the funds it needs to buy crude and keep its plants open as supplies dwindle at a facility in France, according to a labor union.
Company management, which announced yesterday that banks froze about $1 billion in uncommitted loans, are also meeting with unions today, Nicolas Vincent, a representative of France’s CGT union, said by telephone.