Czech state-owned oil pipeline operator MERO CR, A.S. is in the final stages of negotiations to acquire a 32.5% stake in Karlsruhe-based oil refinery MiRO Mineraloelraffinerie Oberrhein GmbH & Co. KG held by Shell plc (LSE:SHEL)'s German unit, Czech paper Hospodarske Noviny reported on February 8, 2024. The Czech government is expected to approve the purchase in the coming days or weeks, the paper said.

The news comes after Shell Deutschland GmbH said in December it had reached a deal to sell its 37.5% stake in PCK Schwedt, another key refinery in Germany. Apart from Shell, MiRo is 24% owned by the German subsidiary of Russian energy giant Rosneft. US oil and gas company ExxonMobil holds 25%, while US energy firm Phillips 66controls the remaining 18.75%.