Currently, Unipetrol, majority owned by Poland’s PKN Orlen, holds 67.55% in the JV with the purchase of Shell’s 16% stake earlier this year.

With the acquisition of Eni’s stake, Unipetrol will become the sole owner of the Ceská Rafinérská.

Unipetrol CEO Marek Switajewski said, "Further integration of the refining and petrochemical segments remains at the core of our main strategic objectives.

"The sole shareholding will allow us to strengthen our position on the Czech market and to increase security of petrochemical feedstock supplies for Unipetrol’s petrochemical business."

Ceská Rafinérská started operating in the processing mode as a cost-plus entity in 2003 and the JV has refineries in Litvínov and Kralupy with a total conversion capacity of 8.7 million tons of crude oil each year.