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Topic: Energopetrol

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	Bosnia gives up demands for more cash - The Budapest Times
		Hours later, it issued a further statement saying this was a blunder, and that what it meant to say was that it would soon decide whether to continue talks with the consortium or start a new tender.
		These demands related to the debts of Energopetrol, and to debts owed by INA - which is already active on the Bosnian market - to the Bosnian state.
		Energopetrol sold 123,900 tonnes of fuel last year for a revenue of 170 million Bosnian markas (EUR 87 million).
	www.budapesttimes.hu /index.php?art=1204 (491 words)

	MOL acquisition hits political snag - The Budapest Times (Site not responding. Last check: 2007-10-23)
		Energopetrol itself has accumulated liabilities of EUR 15 million.
		Energopetrol has estimated capital of 22.7 million Bosnian markas (EUR 11.6 million), sold 123,900 tonnes of fuel last year for a revenue of 170 million Bosnian markas (EUR 87 million), but lost its import licence in December due to an USD 11 million debt, according to news portal CroatiaNewsOnline.
		Energopetrol controls 15% of the retail fuel market of Bosnia-Herzegovina, with 65 filling stations, according to news agency MTI.
	www.budapesttimes.hu /index.php?art=819 (737 words)

	Croatia News Online (Site not responding. Last check: 2007-10-23)
		Earlier in the month, the Bosnia Muslim-Croat Federation government, which holds a 67% stake in Energopetrol, said it was interested in finding a foreign investor that would revive and develop the company, rather than sell a share of the company under a typical privatisation scheme.
		Energopetrol's capital is estimated at 22.7 million Bosnian markas ($15.4 million/11.6 million euro).
		Energopetrol sold 123,900 tonnes of fuels last year, earning 170 million markas in revenue, but it lost its import licence in December due to an $11 million debt.
	www.croatianewsonline.com /news.php?id=108 (214 words)

	Usbiz
		Power equipment supplier Energopetrol Campina has posted a net turnover of 3.23 million euros (131 billion ROL) for 2004, 40% down on 2003 when they achieved 5.5 million euros (207 billion ROL).
		Recent years have seen Energopetrol's turnover shrink, mainly due to falling demand from Petrom, Romania's largest company.
		The company started 2004 with losses due to the freezing of activity during the winter months, but managed to recover ground, ending 2004 with total debts of at 43.3 billion ROL and receivables from customers of 40.6 billion ROL.
	www.usbiz.ro /digit/show-news.php3?id=16174 (140 words)

	E-mail Story to Colleagues
		Bosnian press reported that MOL and its Croatian subsidiary INA offered EUR5.2 million for a 67% stake in Energopetrol, Bosnia's largest petrol station, and promised to invest a further EUR76.7 million into development at the company.
		Austrian oil and gas company OMV AG (OMV.VI) had also submitted a bid for Energopetrol, which has 65 filling stations in Bosnia and controls 15% of the retail gasoline market.
		MOL holds a share of 25% plus one vote in INA and plans to increase its stake in the privatization round, expected later this year.
	realtimenews.slb.com /emailstory.cfm?storyid=627346 (208 words)

	Hungary's Mol rules out OMV joint bid for Energopetrol - Forbes.com (Site not responding. Last check: 2007-10-23)
		The move was meant to ease concerns that the Croatian government, which owns a quarter of INA, could use INA's stake in Energopetrol to exert political pressure on Bosnia.
		According to earlier reports, Mol and INA offered the equivalent of 5.1 mln eur for the stake in Energopetrol in the first bid.
		Mol and INA also promised to invest 76.7 mln in the company over the next three years and pay off 30.6 mln eur of Energopetrol's debts.
	www.forbes.com /home/feeds/afx/2005/05/10/afx2015175.html (539 words)

	Interfax Hungary Business Daily. \| Business (International) (Site not responding. Last check: 2007-10-23)
		The decision was reportedly squeezed by HVB Bank, another creditor which has mortgage on 25 of the Bosnian oil company's fuel stations.
		In its bid, submitted in April this year, the MOL-INA consortium vowed to invest EUR 75 mln over the next three years, assume EUR 30.6 mln of the company's debts, and keep the current headcount of 1059 for three years.
		The remaining stake in Energopetrol will be owned 22% by the Bosnian state, while 11% will be held by retail investors.
	www.allbusiness.com /periodicals/article/578661-1.html (865 words)

	seeurope.net :: View Story (Site not responding. Last check: 2007-10-23)
		The consortium of MOL, the Hungarian oil and gas concern, and its 25 percent Croatian affiliate INA are up against two rivals in the tender for a 67 percent stake in Bosnia’s Energopetrol, Interfax reported recently, citing Bosnian Energy and Industry Minister as telling the state news agency MTI.
		Of MOL’s rivals, Austria’s OMV is pledging 16.8 million Euro for investments and would assume 13.2 million Euro of Energopetrol’s debt; however, the offered purchase price for the state-held share packet was not disclosed.
		The third bidder is Bosnian firm Euroinzenjering, which reportedly offered 32.2 million Euro on debt relief, 14.3 million Euro in future investments and 12.7 million Euro for the actual stake, while pledging to retain 760 of Energopetrol’s workforce.
	www.seeurope.net /en/Story.php?StoryID=55242&LangID=1 (172 words)

	Alexander's Gas & Oil Connections - Bosnia and Herzegovina need to discuss oil company privatisation (Site not responding. Last check: 2007-10-23)
		30-10-05 The caucuses of the BiH Social Democratic Party (SDP) and the Bosnian Party (BOSS) have launched an initiative for holding of an extraordinary session of the BiH Federation House of Representatives, which would be dedicated to privatisation of Energopetrol.
		"We learned from the press that the government made a decision at its session on October 14 in Mostar to select INA-MOL consortium for strategic partners in additional capitalization of Energopetrol," the caucuses said.
		Having in mind the announcement that the final contract is to be concluded by the end of November, the SDP and BOSS caucuses think that it is necessary to discuss this matter, otherwise there can be very damaging consequences for the BiH Federation and its citizens.
	www.gasandoil.com /goc/news/nte54754.htm (153 words)

	RADIO FREE EUROPE/ RADIO LIBERTY
		He asked the Regulatory Communications Agency to impose the most stringent sanctions against broadcasters that do not comply with the decisions of the Council of Ministers.
		The government ordered that necessary steps be taken to ensure that the terms of the agreement go into force.
		Once the agreement is signed, INA and MOL will take over a 67 percent stake in Energopetrol, the federation will retain 22 percent, while the remaining 11 percent will be owned by small shareholders.
	www.rferl.org /newsline/2006/07/4-see/see-140706.asp (443 words)

	1997/11/06 18:00 Illegally elected directors blocked the building (Site not responding. Last check: 2007-10-23)
		Any professional use or publication in written or electronic form is subject to an agreement with
		Sarajevo, 6 November 1997 (AIM) -After the session of syndic's representatives, yesterday, the illegally nominated directors of "Energopetrol", with Kerim Loncarevic, the new director, and the body guards occupied the direction of "Energopetrol" in Sarajevo.
		Ismet Grbo, SDA Spokesman stated at the press conference of SDA that 'the 'Energopetrol' questrion should be resolved according to the legislation." (End)
	www.aimpress.ch /dyn/izbe/archive/data/199711/71106-022-izbe-sar.htm (104 words)

	Alexander's Gas & Oil Connections - Companies eye strategic partnership with Bosnian oil firm (Site not responding. Last check: 2007-10-23)
		12-11-04 Hungarian oil and gas company MOL, Croatia's INA, in which MOL owns a 25 % stake, Austria's OMV, Slovenia's Petrol and a Turkish company are reported in Bosnia and Herzegovina to be interested in forming a strategic partnership with Bosnia-Herzegovina's largest oil company Energopetrol.
		The government of Bosnia and Herzegovina said in Oct. that it was looking for other companies in the industry to invest in Energopetrol.
		OMV's Slovenian subsidiary, OMV Adriatik, as well as Petrol representatives have already met officials of the Bosnian government to discuss the matter.
	www.gasandoil.com /goc/company/cne44727.htm (121 words)

	Commercial Credit Report for Compania Energopetrol S.A. (Romania) - Report Preview
		Compania Energopetrol S.A. is a Romania-based company active in the construction industry.
		The Company's main activities include the assembling and service for electro-energetically and telecommunication installations in the oil and gas distribution industry.
		By using this website, you accept the Terms of Use Agreement.
	www.crmz.com /Report/ReportPreview.asp?BusinessId=7674364 (107 words)

	MOL Seen Strongly Defending Croatia Alliance \| newratings.com (Site not responding. Last check: 2007-10-23)
		1310 GMT [Dow Jones] MOL (MOL.BU) will push hard to preserve its consortium with Croatia's INA and take over Bosnia's Energopetrol together, says ING analyst Andras Zekany after Bosnian Prime Minister warned Thursday that the deal might be in danger.
		Zekany says It's important for MOL to demonstrate that it can cooperate with INA, chiefly to pave the way toward a controlling stake in the Croatian State oil company.
		Hungary's MOL Dn On Energopetrol News>MOL.BU Grupa Lotos Debuts +6.9%, Seen Lower
	www.newratings.com /analyst_news/article_886569.html (254 words)

	Marka (Site not responding. Last check: 2007-10-23)
		Bosnia agrees to sell Energopetrol to MOL/INA consortium - Portfolio.hu
		Bosnia agrees to sell Energopetrol to MOL/INA consortiumPortfolio.hu, Hungary - Jul 14, 2006...
		The consortium agreed to pay 10.2 million Bosnian marka (USD 6.7 million) for the majority stake and 60.2 million marka for servicing debt, including 14.6...
	www.33beat.com /Marka.html (273 words)

	Petrol road maps from Yugoslavia
		Even in Serbia, NIS-Jugopetrol controls only 70% of the market from its 350 outlets, with the balance shared between Beopetrol (since acquired by Russia's Lukoil) and several smaller companies.
		As might be expected, Energopetrol suffered most from the 1990s civil war and subsequent cantonisation of Bosnia; much reduced in size, it remains the largest brand in Muslim areas with 65 service stations.
		It is being privatised, but in June 2005 the Government appeared to be trying to prevent highest bidder (a consortium of OMV and INA) taking control.
	www.ianbyrne.free-online.co.uk /country/maps-yu.htm (787 words)

	PetrolWorld.com - Europe Headlines - Bosnia rejects MOL-INA joint bid
		Russia: Rosneft to Increase Petrol Stations to 1000
		Bosnia's parliament rejected a government proposal to sell 67% of state-owned oil company Energopetrol to Hungary's MOL Rt and Croatia's INA dd, Bosnian news agency Fena reported.
		The state will probably initiate bankruptcy proceedings at Energopetrol as the company's capital will fall below zero by the end of February, Fena said, citing Hadzipasic.
	petrolworld.com /news/europe/?guid=9ef52134-1a66-442c-b690-951e446259d8 (163 words)

	Add new comment \| Novinarstvo.com
		Home » Bosnia agrees to sell Energopetrol to MOL/INA consortium - Portfolio.hu
		Bosnia agrees to sell Energopetrol to MOL/INA consortiumPortfolio.hu, Hungary - 14 Jul 2006The government of Bosnia's Muslim-Croat federation approved a long-delayed plan to sell debt-ridden fuel retailer Energopetrol to a consortium of Hungary's MOL...
		Bosnia sells Energopetrol to Hungarian/Croatian MOL-INA team Budapest Business Journalall 2 related
	www.novinarstvo.com /comment/reply/10448 (478 words)

	Home
		In comparison to western European countries, Croatian consumers, be they large or small, pay half as much for natural gas.
		The Government of Bosnia and Herzegovina Federation again prolonged making a final decision about the strategic partner for recapitalization of oil company “Energopetrol”, say Sarajevo’s media.
		Although it was announced that the Government would make a final decision mid last week, to accept the consortium INA-MOL as the future strategic partner or to nullify the tender and call for a new one, this did not happen.
	www.energyobserver.com /eng/index.php?b=7 (538 words)

	The Budapest Sun Online - Hungary's Mol rules out OMV joint bid for Energopetrol (Site not responding. Last check: 2007-10-23)
		The Budapest Sun Online - Hungary's Mol rules out OMV joint bid for Energopetrol
		Hungarian oil and gas company Mol and its Croatian unit INA will not bid together with Austria's OMV AG for a stake in Bosnia's Energopetrol, business news website portfolio.hu reported on Tuesday, citing MOL spokesman Szabolcs I. Ferencz.
		Web design by JWH media services for The Budapest Sun Online
	www.budapestsun.com /dailynews/bpsundailynews110520051.htm (81 words)

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