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US $ 190 million loan for Galnaftogaz
The European Bank for Reconstruction and
Development (EBRD) and the International
Finance Corporation (IFC) have arranged a
financing package worth US $ 190 million to
support major Ukrainian petrol station operator
Galnaftogaz (GNG). The facility will finance
GNG’s expansion in central and northern Ukraine
and help restructure its balance sheet. The
IFC and the EBRD, will provide two US $ 65
Tatneft could increase oil supplies to Belarus
Russian Tatneft has increased the volume of
crude oil shipments to Belarusian refineries
for the fourth quarter of 2011. In turn, Belarus
is assisting Tatneft in the construction
of 37 petrol stations in the country. The
agreement was recently achieved during a
visit of the Belarusian delegation in Tatarstan.
Belarus has reduced by almost four
times the import of Azeri oil decreasing
demand to approximately 60–80 tons per
million corporate loans each, with ING Bank and
the Dutch development bank FMO providing
loans of US $ 30 million each. The Black Sea
Trade and Development Bank will also provide
a parallel corporate loan of US $ 30 million. In
addition, the EBRD will invest US $ 30 million
of equity in GNG equity. The financing package
will add 75 filling stations bringing GNG’s
network to 380 across the country.
MOL completes takeover of stations in Slovenia
MOL Slovenia, member of the MOL Group
has taken over all of the 19 existing filling
Petrol invests in Montenegro
According to Montenegrin media reports, Petrol
the sole owner of Petrol Bonus, will buy gas
stations in Bijelo Polje, Rezevici Danilovgrad
and Ulcinj. The investment worth around 11
stations previously owned by TUS Holding
companies following the successful closing
of the transaction. Rebranding of the service
stations to MOL’s visual identity will be
implemented in the next months. With the
takeover MOL Group doubled the number of
filling stations in Slovenia, now operating 37
retail stations throughout the country, which
may be complemented by additional sites
currently under construction.
month from 240 tons. As a result, the total
amount of oil received from outside Russia
will reduce to just 1 million tons instead
of previously planned levels of 4 million.
Belarus and Tatarstan also agreed on the
further development of mutually beneficial
cooperation in the supply of machinery, passenger
vehicles, the development of assembly
plants (Belarusian tractors and harvesters)
and industrial cooperation.
million euro will not be the only investment.
Petrol Bonus also announced that it plans to
continue expanding in Montenegro and build
12–14 petrol stations worth 25–30 million euro.
LATeST NewS, eveNTS, jOBS ONLINe – www.PeTROLPLAzA.cOM
eko closes in Georgia
Eko Georgia, (subsidiary company of
Greece’s largest commercial and industrial
group, Hellenic Petroleum), has
stopped it’s operation in Georgia. Eko
Georgia was established in 1995 and
the company’s infrastructure included
16 petrol stations, a 2 200 m2 oil farm
and has a market share of less than 5
percent. However despite the fact that
Eko Georgia has been shut down, Hellenic
Petroleum will continue its business in
the Georgian market by cooperating with
Gulf Oil. The reason why Eko Georgia
was replaced by Gulf oil has not been
explained by either company.
Ukraine’s fuel market
forum in Kyiv
NewS – eUROPe
The third international conference on issues
of the Ukrainian fuel market, Petroleum
Ukraine 2011, will be held in the Radisson
Blu Hotel in Kyiv on November 10–11.
The organizers of the event are the A-95
Consulting Group and the Ukrainian
Fuel Traders Association. The forum
is supported by the largest operators of
Ukraine’s fuel market, including TNK-
BP, the Belarusian Oil Company Bel
Oil, Orlen Lietuva, and the OKKO fuel
filling stations network. “The main theme
of Petroleum Ukraine 2011 will be the
fight against unfair competition, which is
characterized by trading of low quality or
smuggled fuel”, A-95 Consulting Group
Director Serhiy Kuyun said.
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