OMV completes sale of Bayernoil interest
OMV AG has closed the sale of its 45% interest in the Bayernoil refining complex near Ingolstadt, Germany, and related businesses to Varo Energy BV.
Terms of the sale weren’t disclosed.
The sale is part of an OMV strategy to concentrate on exploration and production and refining integrated with petrochemical manufacture (OGJ Online, Jan. 13, 2012).
Bayernoil integrates plants at Vohburg and Neustadt with combined capacity of 215,000 b/d.
Other Bayernoil interests are held by subsidiaries of Ruhr Oel GMBH 25%, Eni SPA 20%, and BP PLC 10%.