Italy’s energy group Eni may sell its 32% stake in Ceska Rafinerska, a leading Czech oil refiner, to Russian gas giant Gazprom, an industry source said on Tuesday.
“Eni has informed the other shareholders, Unipetrol and Shell, that it is negotiating the sale of its stake with Gazprom,” Confirmed by a senior oil company manager. “We have known about it since last week.”
Ceska Rafinerska is the largest crude refining company in the Czech Republic and the largest domestic producer of oil products.
Czech Unipetrol holds a 51.22% stake in the Ceska Rafinerska joint venture, while Shell Overseas Investments, part of Royal Dutch Shell, holds a 16.335% stake. The shareholders are in strained relations after failing to agree on a new general director and board chairman in January.
Under the terms of the joint venture, the companies have the right of first refusal if one of the shareholders wants to sell his stake.
