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Gunvor Buys Stake in TAL Pipeline to Secure Crude

(Corrects date of deal in second paragraph in story published yesterday.)

Dec. 6 (Bloomberg) -- Gunvor Group Ltd. said it bought a 10 percent stake in the Transalpine pipeline to secure long-term crude supply to its refinery in Ingolstadt, Germany.

The deal closed on Dec. 4, the company said today in an e-mailed statement. The pipeline known as TAL runs from Trieste in Italy to locations in Germany.

Austria’s OMV AG has a 25 percent share in TAL and Royal Dutch Shell Plc owns 24 percent, according to the statement. Ruhr Oel GmbH, a venture of BP Plc and OAO Rosneft, has an 11 percent stake, Eni SpA holds 10 percent, BP 9 percent, Exxon Mobil Corp. 6 percent, ConocoPhillips 3 percent and Total SA 2 percent, the statement showed.

Gunvor completed the purchase of the 110,000 barrel-a-day Ingolstadt refinery from Petroplus Holdings AG, the insolvent Swiss refiner, in August. The pipeline stake Gunvor bought was previously owned by Petroplus.

To contact the reporter on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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