KazMunayGaz negotiates on purchase of major feeling-station in Kazakhstan

Oil&Gas Materials 3 September 2009 12:10 (UTC +04:00)

Kazakhstan, Astana, Sept. 3 / Trend K. Konyrova /

The Kazakh national company KazMunayGaz holds negotiations on purchase of Gelios limited liability partnership (LLP), a source in KazMunayGaz told Trend .

"Gelios LLP is a brand which well recommended itself in the Kazakh market. Moreover, it is a good product and a very good price was requested for it. We do not hide our interests in the acquisition of the network," the representative of the company said on condition of anonymity.

Gelios LLP is one of the largest players in the retail petroleum market of the country. The company owns the most extensive network of filling stations in Kazakhstan (about 630 stations). Previously, Gelios LLP was a part of Mangistaumunaygaz as a trade "daughter" of the Pavlodar Petrochemical Plant (PPP) in the north of the republic.

Before the sale of shares of the Mangistaumunaygaz joint stock company, PPP and Gelios were withdrawn from the Company with individual lots.

"This is business and if there is an acceptable price for us, we will have a plan on purchase. If there is no acceptable bid, then there will be no plan. But it is a question of negotiations and we do not hide that we are conducting such negotiations," the source added.

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