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UPDATE 1-Unipetrol scraps plans to sell Paramo - paper

Tue, 02nd Jul 2013 07:27

(Adds details)

PRAGUE, July 2 (Reuters) - Czech downstream oil groupUnipetrol has abandoned plans to sell its lubricantsmaker Paramo, the company's supervisory board chief was quotedon Tuesday as saying.

"We do not want to sell it any more, although we wereconsidering it in the past," daily Hospodarske Noviny quotedDariusz Jacek Krawiec, also general director at Unipetrol ownerPKN Orlen, as saying.

Unipetrol had planned to sell the business this year, afterclosing its refinery operations last year.

Krawiec also said the Polish company would be interested infurther acquisitions on the Czech market if there were any, suchas a potential privatisation of state pipeline company Cepro.

PKN Orlen plans to propose to the Czech government severaloptions for cooperation, Krawiec said.

He said he "could not rule out" a scenario in whichUnipetrol could increase its 51.2 percent stake in refineryCeska Rafinerska if one of the minority shareholders - RoyalDutch/Shell and Italy's ENI - decides to sell.It could then swap that stake for a share in Cepro. (Reporting by Jana Mlcochova; Editing by Mark Potter)

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