Romanias OMV Petrom denies sale of filling stations to NIS.

By bne IntelliNews September 30, 2011
Romanian oil and gas company OMV Petrom, controlled by Austria's OMV, denied media reports indicating plans for the sale of 139 filling stations to Serbia's NIS, Agerpres announced, quoting a press release of the company. OMV Petrom, however, is constantly evaluating the efficiency of its filling station network in order to optimise it, the press release informed. We recall that Ziarul Financiar daily reported earlier this week, quoting unofficial sources, that OMV Petrom wants to sell 130 of its 546 filling stations adding that Serbia's oil company NIS, controlled by Gazprom, is conducting a due-diligence, prior to a would-be takeover. The rumours were in a way supported by the fact that OMV Petrom closed down permanently earlier this year one of its local refineries in order to reduce processing activities in line with own crude oil production and not refine oil purchased from third parties. Lower refining activity would mean smaller fuel sales per filling station. OMV Petrom Marketing, the marketing division of OMV Petrom, operates 546 stations out of which 389 under the Petrom brand and 157 under the OMV brand. Including the distribution network abroad, the company operates 800 filling stations.
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