Hydrocarbon Processing Copying and distributing are prohibited without permission of the publisher
Email a friend
  • Please enter a maximum of 5 recipients. Use ; to separate more than one email address.



Shell offers to sell stake in top Czech refinery

04.09.2013  | 

"We received an offer from Shell and it's led to negotiations," Industry Minister Martin Kuba said. The minister is also said that Shell offered its stake to the two other shareholders in the refinery, which have an option to purchase the stake before it's offered to third parties.

Keywords:

By SEAN CARNEY

PRAGUE -- A unit of Royal Dutch Shell is in talks with shareholders and the Czech government over the potential sale of its 16% stake in the largest refinery in the Czech Republic, a local news website reported Tuesday, citing the Czech industry minister.

"We received an offer from Shell and it's led to negotiations," Industry Minister Martin Kuba said, according to news website Ceska Pozice.

Mr. Kuba, his press office and representatives from Shell weren't immediately available to comment on the report.

A state acquisition of Shell's stake in Ceska Rafinerska would be logical only "if it fell into the structure of a future [state-run] petro holding company, on which we are now finishing conceptual work," Mr. Kuba was quoted as saying.

The minister is also reported to have said that Shell offered its stake to the two other shareholders in the refinery, which have an option to purchase the stake before it's offered to third parties.

Italy's Eni has a 32.4% stake, having doubled its holdings in the refiner in 2007, while Unipetrol, the Czech unit of Polish PKN Orlen, holds a 51% share in the refiner.

PKN and Unipetrol officials said they won't comment, but in the past they have repeatedly said they would like to increase their stake in the refiner.

ENI representatives declined to comment.


Dow Jones Newswires



Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Related articles

FEATURED EVENT



Sign-up for the Free Daily HP Enewsletter!

Boxscore Database

A searchable database of project activity in the global hydrocarbon processing industry

Poll

Should the US allow exports of crude oil? (At present, US companies can export refined products derived from crude but not the raw crude itself.)


70%

30%




View previous results

Popular Searches

Please read our Term and Conditions and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2014 Hydrocarbon Processing. © 2014 Gulf Publishing Company.