Romania, PKN Orlen is not taking over OMV’s stake in Petrom

, SEE Energy News

Polish oil company PKN Orlen said that it is not in talks with the Austrian OMV Group over the sale of OMV’s stake in the largest Romanian oil and gas company Petrom.

M&A Director at PKN Orlen Robert Sleszinsky said that the rumors in Austrian media over the alleged negotiations between the companies are simply not true. He noted that Romania has always been interesting to PKN Orlen from a geographic perspective and for its market potential, so it is looking for potential opportunities there, but it has no interest in the upstream assets in Romania.

OMV holds a 51 % stake in OMV Petrom, with the Romanian state being the second largest stakeholder with 20.6 %.