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Talks end on Shell MiRO refinery stake sale to Czech firm, sources say

Reuters
·1 min read
A pilot flame burns atop Shell Energy and Chemicals Park Rhineland near Cologne

PRAGUE (Reuters) - Talks on the sale of Shell Deutschland's 32.5% stake in Mineraloelraffinerie Oberrhein GmbH (MiRO) in the southern German city of Karlsruhe to Czech state-owned pipeline operator MERO have ended without an agreement, two sources with knowledge of the talks said on Tuesday.

Shell and MERO both declined to comment.

The sources confirmed a report Czech public radio's news website irozhlas.cz saying the talks had ended.

The Czech government has been strengthening the role of the state in the energy sector. It has bought domestic gas storage and transit networks, as well as a network of gas stations in the Czech Republic.MERO has been investing in capacity expansion of the TAL oil pipeline from Italy to Germany that feeds Czech refineries, as well as the MiRO refinery.

(Reporting by Jan Lopatka, additional reporting by Riham Alkousaa)