Will Belarusian Naftan be sold t Chavez?

Venezuelan companies could become shareholders of Belarusian oil refineries.

It was written by independent mass media during the recent visit of Venezuelan president Hugo Chavez to Minsk, and yesterday it was stated by first Vice premier Uladzimir Syamashka, BelaPAN informs.

Syamashka reminded that the Russian side owns 41.6% of the statutory fund of Mozyr oil refinery joint stock company, and the entire statutory fund of Naftan is owned by Belarus.

“We have never concealed that we are looking for investors for these enterprises,” he said.

As said by Syamashka, a potential investor should not only have resources to buy a portfolio of shares, but also to offer investment programme “for at least ten years to come”. Besides, he should have “internal resources in order to guarantee work load for the enterprises.” The third demand is: potential shareholders should have sales markets.

Depending on what conditions would be offered by an investor, it could receive any parcel of shares up to the controlling interest.

At the same time, as said by Syamashka, Belarus is cautious in choosing investors, as “there are not so many” oil refineries in the country.