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Lithuania to sell stake in Mazeikiu Nafta

Dec 15, 2008
TBT Staff in cooperation with BNS

VILNIUS – The new Lithuanian government has announced that it will sell its near 10 percent share in Mazeikiu Nafta (Mazeikiai Oil), the sole Baltic oil refinery, to Poland's PKN Orlen for $284.45. "As far as I know, talks with PKN Orlen will begin this week. We need to talk about that," Prime Minister Andrius Kubilius said during the Cabinet meeting. Lithuaniain late 2006 sold PKN Orlen a 30.66 percent stake in the refinery and retained the option to sell the remaining 9.98 percent. The ...

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