MOL invited for parallel talks on Rafineria Gdanska sale

Nafta Polska, the agency responsible for the energy sector privatization, is to hold parallel negotiations with Britain's Rotch Energy and MOL of Hungary on the sale of a 75% stake in Rafineria Gdanska (RG). The move follows the failure by Rotch to provide adequate financial guarantees for the purchase. "We have been unable to secure financial guarantees from Rotch Energy and now we will talk to both Rotch and MOL before a final decision is made, hopefully next week," Nafta Polska chairman Maciej Gierej told a news conference. Commenting on the Rotch bid, an anonymous source at the privatization agency told Rzeczpospolita, "It's a credible company and has a good program for the refinery. But it is not able to finance it independently." Rzeczpospolita has also learned that Rotch representatives yesterday held talks with another oil company on the possibility of forming a consortium to complete the RG bid. Nafta Polska is meeting representatives of MOL today, to discuss the RG privatization. (Rzeczpospolita, p. B4; Reuters) A.Z.