Nafta opts to continue parallel oil privatization talks

Nafta Polska, the state company responsible for privatizing the oil sector, has decided to continue parallel negotiations on the sale of a 75% stake in Rafineria Gdanska with two bidders, MOL of Hungary and Britain's Rotch Energy. Analysts say they are surprised by the move, since Nafta had been expected to choose just one investor for the final round of talks on the sale of Poland's second largest petroleum firm. According to unofficial sources, the price offered by the bidders is attractive, unlike the $50 million that oil giant Neste was willing to pay two years ago. Nafta decided that bid was too low and canceled the sale. MOL already has a significant share of the Hungarian, Slovak and Czech markets, and now it is looking to expand its regional influence to Poland and Croatia. Rotch Energy Ltd. is a relative newcomer to the oil sector; until a few years ago it was a financial sector company, specializing in real estate. (Rzeczpospolita, April 28-29, p.B2) T.J.