engleski

A view of the Oil Sector in the Region ; INA's Market Position

Oil Industry in C&EE is going simultaneously through two different processes ; privatisation and market repositioning. Beside there, energy market deregulation brings additional excitement in a large number of energy companies. The so called “ convergence” appears as a new form of concentration. Who could have imagined once the merger of Eon and Ruhrgas. Just these days (22 September2003.), the Croatian daily papers “ Vjesnik” , published the article about privatisation of PETROM from Romania. The 12 bidding companies, the three unavoidable ones ; OMV, MOL, PKN Orlen and 9 others: ENI, TNK-BP, Conoco-Phillips, Occidental Oil & Gas, Alon (consortiums of Halliburton – USA, Regal Petroleum (GB), Tender (RO)), GAZPROM, Hellenic Petroleum, Phoenix Oil (Cyprus), Glencore (Swiss), Group SIGOMIGA (Ro), Kanooz Al Watana (S.A.). What a rush in front of goal keeper! Strategic alliances have not ended yet. In these circumstances, privatization of INA was commenced and finished. MOL, Hungarian Co was winner in public biding procedure, buying 25% + 1 shares of INA. As Dr.Dragičević, CEO of INA said:” Each partner has one competitor less, but other competitors will meet a new and strong market player.”

Oil industry; merging and aquisition (M&A); restructuring

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