Gazpromneft interested in purchasing Petrohemija

The Russian Gazpromneft is interested in purchasing Petrohemija Pancevo, and, in addition to this global energy company, the talks involve one Polish company and several Chinese ones as well, Blic reports.

The reason for the sudden interest of potential purchasers lies in the fact that the Pancevo-based factory is profitable, which enables the state not to sell it for a low price, the Belgrade daily writes.

As Blic adds, this is confirmed by the fact that Petrohemija, which is currently overhauling its facility and is therefore not operational at the moment, plans to set aside EUR 18.3 million from its own funds for this year's investments.

Of all the negotiations about the purchase of Petrohemija, it is those with Gazpromneft that have progressed the furthest, as the Russian company has provided a framework for the potential transaction, which entails investments in the Serbian company, in addition to the purchase price.

However, as Blic reports, the amount of the investments is the contentious issue, as the proposed investments have not fully satisfied the Serbian party.

JSC Gazprom Neft Moscow

HIP-Petrohemija a.d. Pančevo

Gazpromneft

sale of Petrohemija

acquisition of Gazpromneft

investments in Petrohemija

overhaul of Petrohemija