Unipetrol withdraws plan to sell Paramo

Czech downstream oil group Unipetrol has abandoned plans to sell its lubricants maker Paramo, the company’s supervisory board chief said.
“We do not want to sell it any more, although we were considering it in the past,” daily Hospodarske Noviny quoted Dariusz Jacek Krawiec, also general director at Unipetrol owner PKN Orlen, as saying.
Unipetrol had planned to sell the business this year, after closing its refinery operations last year.
Krawiec also said the Polish company would be interested in further acquisitions in the Czech market. PKN Orlen plans to propose several options for cooperation to the Czech government, Krawiec said.
He said he “could not rule out” a scenario in which Unipetrol could increase its 51.2% stake in refinery Ceska Rafinerska, if one of the minority shareholders–Royal Dutch/Shell and Italy’s ENI–decides to sell.