The Malta Independent 6 May 2024, Monday
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Sale of petroleum division: Minister chooses not to divulge information on government-owned entity

Wednesday, 3 December 2014, 18:13 Last update: about 10 years ago

Energy Minister Konrad Mizzi's reply to a question posed by PN MP George Pullicino was that the issue is of a commercial nature and therefore declined to comment further.

Mr Pullicino asked the minister if the government asked for a bank loan for Enemed Co Ltd to purchase the Petroleum Division – owned by Malta Government Investments.

Enemed is a government owned company and any issues tied to government-owned entities is of public interest.

The division had been sold to Petromal Co Ltd and Enemed Co Ltd - both owned by Malta Government Investments.

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Dr Mizzi said that the funds needed for the operation of the petroleum division was financed by the new company, Enemed but the minister did not elaborate further on the issue.

In October, the European Commission had said that it was not in a position to comment on whether the government-to-government €83 million sale of Enemalta's petroleum division amounts to state aid.

The two companies, set up earlier this year, now own the division, including its installations in Birzebbuga and Has-Saptan. According to reports, the sale was made so that Enemalta could pay part of the €150 million it owes to the government in excise taxes.

 

 

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