MOSCOW (MRC) - Czech downstream oil group Unipetrol has abandoned plans to sell its lubricants maker Paramo, said Reuters, citing the company's supervisory board chief Dariusz Jacek Krawiec.
"We do not want to sell it any more, although we were considering it in the past," daily Hospodarske Noviny quoted Dariusz Jacek Krawiec, also general director at Unipetrol owner PKN Orlen, as saying.
Unipetrol had planned to sell the business this year, after closing its refinery operations last year.
Krawiec also said the Polish company would be interested in further acquisitions on the Czech market if there were any, such as a potential privatisation of state pipeline company Cepro.
PKN Orlen plans to propose to the Czech government several options for cooperation, Krawiec said.
He said he "could not rule out" a scenario in which Unipetrol could increase its 51.2 percent stake in refinery Ceska Rafinerska if one of the minority shareholders - Royal Dutch/Shell and Italy's ENI - decides to sell. It could then swap that stake for a share in Cepro.
As MRC wrote before, Czech downstream oil group Unipetrol plans to invest 19 billion crowns (USD976 million) over the next five years under a new strategy to help it return to profit. By 2017, Unipetrol wants to have increased the capacity utilisation of its petrochemical steam cracker unit by 13 percentage points and increase sales of petrochemical products by 11%, to 1.4 million tonnes.
Unipetrol , a.s. is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 Unipetrol became a part of the PKN ORLEN Group, the largest oil processor in Central Europe. The UNIPETROL Group is oriented mostly towards oil processing, fuel distribution and petrochemical production. In all of these business areas the Unipetrol Group is among the key players both in the Czech Republic and on the Central European market. The Group ranks among the leading firms in the Czech Republic in terms of its revenues, and employs almost 4,000 people.
MRC