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

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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