Eni signed today with ConocoPhillips Central and Eastern Europe Holdings B.V. an agreement has for the purchase of a further shareholding, corresponding to 16,11%, of the share capital of the Czech Refining Company (CRC), which is by far the leading refining company in the Czech Republic and one of the most important in Central Europe.
CRC is a refining company established in 1996 as a joint venture among Unipetrol (51%), Shell (16,33%), ConocoPhillips (16,33%) and Eni (16,33%). Following the deal, Eni reaches a 32,4% interest in CRC.
The production facilities of the company consist of two oil refineries located respectively in Kralupy and Litvinov, with a total processing capacity of about 8 mln tons per year (165,000 bpd).
Following the transaction, Eni will almost take its refining capacity in the country to 2,6 mln tons per year (54,000 bpd), thereby enhancing its integrated marketing and industrial activities.
This acquisition represents a further step in Eni’s strategy of improving the competitive positioning of its downstream activities in Europe.
