News in brief

WESTERN EUROPE Germany BP is selling 494 service stations in north and northeast Germany to PKN Orlen, Poland's largest manufacturer and distributor of fuels. To meet the conditions for its acquisition of Veba Oil, BP must sell off enough retail outlets to reduce the combined BP/Aral retail market share from 26% to 22% (based on volumes in 2000). The sites involved in this deal equate to 2.4%. PKN Orlen, which is trying to develop a pan-regional retail network, is paying $140m in cash, including the assumption of debt. The deal should close on 28 February, subject to approvals. Ireland Ramco, operator for the Seven Heads gasfield development, has signed an agreement to sell its entire share