Decision on Transpetrol tomorrow

A DECISION as to whether Slovakia will try to buy back a 49-percent stake in oil transportation company Transpetrol from Russian Yukos or will support the stake’s sale to another company will be made tomorrow, said economy minister Ľubomír Jahňátek after a meeting with Slovak President Ivan Gašparovič on August 7.

"If we do not agree with Yukos over the Transpetrol buyback, we will request the fulfillment of certain conditions from potential buyers. The company best meeting these terms will have a chance to become Slovakia's strategic partner in Transpetrol," said Jahňátek.

Apart from obtaining greater state control in Transpetrol, the Slovak Economy Ministry will insist that the potential minority owner of Transpetrol guarantee Slovakia's energy security and solve questions related to storing Slovakia's strategic crude oil reserves, as required by the European Union.

Jahňátek insisted, however, that the buyback of shares remains a priority for Slovakia.

Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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