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PKN Orlen CEO: "I don’t see any chances that the Russian oil company will become a co-owner of the Gdańsk Refinery"

PKN Orlen CEO: "I don’t see any chances that the Russian oil company will become a co-owner of the Gdańsk Refinery"

Warsaw, August 7 - Neftegaz.RU. “I do not see any chances for the Russian oil concern to become a co-owner of the Gdańsk refinery. Orlen will decide which partner it will have in this transaction, not the European Commission, " the president of PKN Orlen, Daniel Obajtek said in an interview with Polish Rzeczpospolita.

"Additionally, it will be a strategic partner for us, from whom we expect to contribute some assets in return. It is about exchanging assets with a global player in those countries where we already do business. It is also possible to bring in oil and gas exploration and production assets, or to provide attractive supplies of raw materials to our refineries, or to acquire additional know-how," he noted.

The CEO recalled that the EC determined in remedial conditions that Orlen’s partner, which would buy shares in the Gdańsk refinery, must be able to block decisions that could limit its rights to current production.

“When it comes to investments, we decide together 1st, but if the partner does not want to participate in the investment, we will be able to implement it ourselves. Importantly, the durability of a remedy in this regard is a period of ten years, after that time is not out of the question, that we will start talks about the repurchase of these shares. In negotiations with our partner, we want to guarantee the possibility of their possible redemption. In many areas, the European Commission has given us quite a lot of freedom to formulate detailed solutions regarding the fulfillment of remedial conditions. This is just one example“, Obajtek  said.

He was asked which entities are being invited to talks regarding the sale of Lotos’s assets, and thus who could become Orlen’s strategic partner. “We cannot disclose the specific names. I can only say that it will be less than 10 companies, mainly European, but not only,” he said.

To read the news in Russian.