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Industry: Email Alert RSS FeedUK oil giant BRITISH PETROLEUM (BP) announced on March 27 plans to invest USD10 million in a gas storage and distribution company in Poland. The plan is to set
Europe Energy, April, 1995
UK oil giant BRITISH PETROLEUM (BP) announced on March 27 plans to invest USD10 million in a gas storage and distribution company in Poland. The plan is to set up a joint venture, in which BP will take a 53% stake, while the local authorities of Poznan, where the firm is to be based, will take up the remaining 47% of the capital.
The new company will absorb the activities of former state enterprise KORGAZ, which used to run the largest gas terminal in Poland. "This constitutes a further step towards establishing close links with the oil and gas sector in Poland", explained a BP statement.
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