Slovenia's Largest Oil Company to Sell Electricity with Austria's Estag AG

Bled, 26 October - Slovene oil company Petrol and Austria's Estag AG are founding a joint venture for electricity trading, Elektropetrol, Petrol Chairman of the Board Janez Lotric told a press conference on Friday. Petrol will hold 51 percent of the stock, while a 49-percent stake will belong to Estag. The foundation procedure was initiated by singing a partnership agreement on 10 October, said Lotric, adding that the new company, supplying about one fifth of Slovenia's electricity consumers, would be based in Ljubljana, beginning operations on 1 January.