Swiss refiner Petroplus is looking to take on the American market with a $2 billion acquisition war-chest, at a time when oil majors like BP and Royal Dutch Shell are selling U.S. refinery assets to concentrate on more profitable ventures.
Zug-based Petroplus (other-otc: PEPFF - news - people ), Europe's largest independent refiner, has put together an investment vehicle with buyout firms Blackstone (nyse: BX - news - people ) and First Reserve. Each partner has put up $667 million for the purchase of crude oil refineries in the United States, which would be a first dip into the American market for Petroplus.
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