Unipetrol, PKN ORLEN's subsidiary, has obtained final clearance from the Czech Antitrust Office for the acquisition of a 32.445% equity interest in Česká Rafinérská from ENI of Italy. Once the transaction is closed, which is scheduled to take place in Q2 2015, Unipetrol will become the sole shareholder of Česká Rafinérská.

The transaction will ensure greater availability and security of feedstock supplies for Unipetrol's petrochemical production contributing to its further growth. In line with Unipetrol's strategic objectives, by 2017 the largest portion of capital expenditure will have been spent on petrochemical projects, which are the main source of Unipetrol's profit.

“The acquisition of Česká Rafinérská shares is in line with our plan to strengthen Unipetrol's Czech assets. As the sole owner of Česká Rafinérská, Unipetrol will be able to optimally manage its refining and petrochemical assets,” commented Jacek Krawiec, PKN ORLEN CEO and Chairman of the Unipetrol Supervisory Board.

Česká Rafinérská, a.s. operates the refineries in Litvínov and Kralupy, which are the only refining facilities currently in operation in the Czech Republic, with a total throughput capacity of 8.7 million tonnes per annum. Following the acquisition of a 16.335% equity interest in Česká Rafinérská from Shell in early 2014, Unipetrol's share in the company's share capital grew to 67.555%. Thanks to the final clearance for the asset concentration, Unipetrol will become the sole owner of Česká Rafinérská, which will facilitate further improvement in operational management. The acquisition will not only benefit investment projects, but also reduce operating expenses.

About Unipetrol

UNIPETROL, a.s. is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 Unipetrol became a part of the PKN ORLEN Group, the largest oil processor in Central Europe. The Unipetrol Group is oriented mostly towards oil processing, fuel distribution and petrochemical production. In all of these business areas the UNIPETROL Group is among the key players both in the Czech Republic and on the Central European market. The Group ranks among the leading firms in the Czech Republic in terms of its revenues, and employs almost 3,700 people.

About PKN ORLEN

PKN ORLEN is a Polish company and one of Central Europe’s largest refiners of crude oil. We specialize in processing crude oil into world-class unleaded petrol, diesel, heating oil, and aviation fuel as well as plastics and other petroleum related products.

We hold licences for onshore and offshore oil and gas exploration throughout the country. One of our shared priorities is to appraise and exploit natural gas from unconventional plays. Our adopted development direction is to transform PKN ORLEN into a multiutility complex with a foothold in the power generation business.

About ENI

Eni is an integrated company that operates across the entire energy chain, employing some 78,000 people in 90 countries around the world. Scientific research and technological innovation are at the heart of its strategies for sustainable development.
Eni’s excellent portfolio of conventional oil assets with competitive costs and the strong resource base with options for anticipated monetization ensure a robust value generation at Eni’s upstream activity. The vertical integration provided by the large presence in the gas and lng markets, and the know-how in refining and chemical sectors enable the company to capture synergies and catch joint opportunities and projects in the marketplace.

See the site of the Kralupy refinery
See the site of the Litvinov refinery