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KMG talks to buy Mazeikiai refinery

KMG talks to buy Mazeikiai refinery
10 July 2014 08:42 473

ASTANA. KAZINFORM - "KazMunayGas" JSC negotiates with the Polish concern "PKN Orlen" (Lithuania) about buying "Mazeikiai" refinery, Lithuanian newspaper "Lietuvos rytas" informs.

According to the newspaper, this year "PKN Orlen" representatives have met several times with the leadership of "KazMunayGas" and offered to start substantive negotiations on the transfer of control over the plant.

However, according to WBJ website ‘Poland's largest oil group PKN Orlen is not selling its Lithuanian refinery, Orlen Lietuva, to KazMunaiGaz, the company's executive director, Andrzej Kozłowski said on Twitter. "Rumors," he wrote, referring to reports from news agencies on the issue'.

PKN Orlen bought the Mazeikiu refinery in 2006. The Kazakh company was then one of the contenders in the privatization process. The refinery, now operating as Orlen Lietuva, is now working at 60 percent of its capacity, due to unfavorable economic conditions.

Keywords: KazMunayGas,