Unipetrol acquire Shell’s 16.3 pc stake in Ceska Rafinerska
X
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Unipetrol to acquire Shell’s 16.3 pc stake in Ceska Rafinerska

5:52 AM, 13th November 2013
Unipetrol to acquire Shell’s 16.3 pc stake in Ceska Rafinerska

PRAGUE, CZECH REPUBLIC: Unipetrol, Czech downstream oil group, has agreed to buy partner Royal Dutch Shell’s 16.3 per cent stake in Ceska Rafinerska for $27.2 million, boosting its stake in the country’s only refinery to 67.6 per cent. Ceska Rafinerska runs refineries in Litvinov and Kralupy and has a total conversion capacity of 8.7 million tonne of crude oil per year. The acquisition is expected to be completed in the beginning of 2014.

“The transaction brings Unipetrol to 67.5 per cent threshold, allowing significant improvement of the company’s operational management and bringing operational costs savings,” said Marek Switajewski, Chief Executive, Unipetrol.

 

© Reuters News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Novartis sells blood transfusion diagnostics unit to Grifols for $1.675 billion

BASEL, SWITZERLAND: Novartis announced a definitive agreement to divest its blood transfusion diagnostics unit to Grifols for $1.675 billion. This tra ...

Read more
KBR bags contract to study Fertial’s ammonia plants in Algeria

HOUSTON, US: KBR, a global engineering, construction and services company, has been awarded a contract by Fertial SpA to conduct a study that will imp ...

Read more
Eastman appoints new Senior Vice President, Chief Technology Officer

KINGSPORT, US: Eastman Chemical Company appointed Stephen G Crawford as Senior Vice President and Chief Technology Officer, effective from 1 January 2 ...

Read more
Engineered bacteria to synthesize drugs, biofuels

CAMBRIDGE, US: Kristala Jones Prather, Associate Professor, MIT designed new ways to engineer bacteria to synthesize useful chemical compounds such as ...

Read more
Scientists discover metallic carbon

VIRGINIA, US: A theoretical, three-dimensional (3D) form of carbon that is metallic under ambient temperature and pressure has been discovered by an i ...

Read more
Good cholesterol to treat diseases

WASHINGTON, US: A new type of “good cholesterol,” made in the lab, could one day deliver drugs to where they are needed in the body to tre ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X