10 July 2014, 08:42

KMG talks to buy Mazeikiai refinery

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.

 Tags: KazMunayGas
Did you find a mistake? Highlight it and click CTRL+ENTER

Read also

KMG plans partial repurchase of 8 mln bonds

ASTANA. KAZINFORM - JSC "National Company"KazMunaiGas" has informed about the upcoming partial repurchase of 8 million of its bonds.

User name:
Enter code:*


Popular

Outrage erupts over 'racist' detergent ad (VIDEO)
Football transfer rumors: Manchester United to sign £54m Saúl Ñíguez?
Kazakhstan: 25 years of contributing to global peace, security and development

ASTANA. KAZINFORM This year Kazakhstan is celebrating its 25th anniversary as an independent nation. Over the years, Kazakhstan has demonstrated its commitment to multilateralism, global peace-building, security and development, as well as its efficiency as an impartial honest broker working for the common benefit. At the initiative of its founding President, Nursultan Nazarbayev, the country has launched meaningful international processes, including the Conference on Interaction and Confidence-Building Measures in Asia (CICA) and the triennial Congress of Leaders of World and Traditional Religions. It has also chaired key organisations such as the Organisation for Security and Cooperation in Europe (OSCE) and the Organisation of Islamic Cooperation (OIC), and has been busy promoting valuable global and regional initiatives such as the establishment of a world free from nuclear weapons and the Eurasian Economic Union.

Commented articles