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Image header Agence Europe
Europe Daily Bulletin No. 8398
Contents Publication in full By article 48 / 57
ECONOMIC INTERPENETRATION / (eu) energy

The British oil company BP has announced the sale of its share in a German refinery and the sale of its service stations in Eastern Europe to the Austrian group OMV (gas, oil, chemicals) for EUR 377 million. OMV will acquire a 45% stake in the German BAYERNOIL refinery, 18% of the TAL Trans-Alpino pipeline and 313 "Aral" service stations in Germany, Hungary and Slovakia. OMV will therefore become the min player in the distribution of fuel on the central and Eastern European markets with 1615 service stations, which corresponds to market share of 12%. BP has also been trying to acquire a 25% stake in the new Russian oil group SIDANKO for USD 4.5 billion. BP already holds a 25% in the company and two other companies owned by TNK INTERNATIONAL. BP has so far failed to comment on this transaction.

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A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS
ECONOMIC INTERPENETRATION