Conoco, Agip, and Shell (which together hold a 49% stake in Ceska rafinerska) will not use their option to purchase Unipetrol’s 51% stake in Ceska rafinerska, the Czech Press Agency reported yesterday afternoon. While Agip and Shell indicated otherwise, Conoco said that it may seek to purchase the stake in time, after the issue of supply prices between Ceska rafinerska and Chemopetrol (Unipetrol’s two largest subsidiaries) is resolved.
Unipetrol should today decide on the next step with regard to Ceska rafinerska; a tender sale is possible, but unlikely, we believe.
Jiri Soustruznik