Russian oil companies Lukoil and Transneft approached Poland's No.1 refiner PKN Orlen PKNA.WA to buy shares in its Lithuanian arm Mazeikiu, Rzeczpospolita daily reported on Tuesday according to The Baltic Course.
PKN's chief executive Jacek Krawiec was quoted as saying that no talks on the sale are taking place at the moment,l writes ELTA.
"It is known that Russians are interested in refining assets in the region. It is not my style to publicly comment on my business meetings," Krawiec told Rzeczpospolita.
PKN Orlen bought a controlling stake in Mazeikiu in 2006. It now owns 90 percent of the refiner and agreed to buy the remaining 10 percent from the Lithuanian government.
Once the transaction is finalised Lithuania will lose its right of first refusal, as it no longer will be a shareholder, Krawiec added.