Lukoil applies for a stake in Paramo
Article Abstract:
Lukoil (Russia), petroleum concern, has applied for a stake in the petrochemical firm Paramo (Pardubice, Czech Republic). Lukoil ensures 70% of the total petroleum deliveries to the Czech Republic. According to international standards, Lukoil's total petroleum deposits are estimated at more than 2.5 bil t, which places the company onto the first position in the world. The firm's refineries process nearly 20 mil t per year of petroleum. In 1999 Lukoil generated a profit of 40.3 bil Roubles. Lukoil Prague (LP) (Prague, Czech Republic), which was set up in January 1996 and whose only shareholder is Lukoil Investholding (Netherlands), builds its own petrol stations throughout the Czech Republic. LP has a stock of 17.7 mil Kc.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 2000
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Lukoil is not interested in Paramo
Article Abstract:
Paramo (Pardubice, Czech Republic), petrochemical company, estimates to need at least 3 bil Kc for its modernization. The finance should be ensured by the strategical partner who will acquire a majority stake in Paramo from the National Property Fund of the Czech Republic in 2000. Among the serious bidders was Lukoil (Russia), one of Paramo's petroleum suppliers, but it withdrew from the tender surprisingly in June 2000. From 2000 Lukoil intends to focus its activities in the Czech Republic primarily on the development of its service station network, having three service stations in the country at the moment. It plans to build new and buy some from other operators.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 2000
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Cepramo wants to acquire Paramo
Article Abstract:
Cepramo (Prague, Czech Republic), trader in petrochemical products, plans to acquire the petrochemical firm Paramo (Pardubice, Czech Republic) in 2000. Cepramo's strategic partner is the state petroleum company Rosneft (Russia). Rosneft's competitor in the exports of petrochemical products from Russia is the concern Lukoil (Russia), which has applied for a stake in Paramo too. After Cepramo's acquisition of a stake in Paramo, Rosneft would probably raise Paramo's stock by up to 1 bil Kc to obtain a direct property share and ensure the financing of Paramo's investment programme. Cepramo, which was set up in 1997, has a stock of 3.1 bil Kc.
Publication Name: Ekonom-Tydenik Hospodarskych Novin
Subject: Business, international
ISSN:
Year: 2000
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