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21

Conoco To Invest In Only Baltics Refinery

US oil giant ConocoPhillips is likely to invest in refining complex

US oil giant ConocoPhillips is likely to invest in refining complex of Mazeikiu Nafta company, Lithuania.

James Mulva, Conoco?s boss, said, ?It is possible that over some period of time we could acquire ownership interests in the refinery." made the comments during a visit to meet the Lithuanian government.

The facility is currently majority owned by Russian oil firm Yukos, which is said to be keen to sell it to help pay its giant tax bill, but the Russian government can block any sale.

40.6% stale of Mazeikiu Nafta is owned by the Lithuanian government.