"The proposal is an interesting one, but first of all it is necessary to study the terms of the concession," the spokesman said, commenting on reports that Romania planned to lease a network of pipelines belonging to the state-owned company Petrotrans to large market operators.
He said the company might be interested in the pipeline stretching from the Port of Constanta to its oil refinery LUKoil-Petrotel, because crude was currently being delivered to the refinery by rail from a distance of 250 km (155 miles).
"It is natural that deliveries via the pipeline would be more profitable from the logistical point of view," the spokesman said. But he added that the pipeline has not been used for a long time, and its condition raised questions.
LUKoil purchased a 51% stake in the Petrotel oil refinery in February 1998 for $53.2 million. The company currently owns 93% of the refinery's shares and has invested $285 million in the development of its Romanian sales infrastructure.
