Poland’s PKN Orlen agrees deal with Treasury regarding takover of Grupa Lotos

Industry:    2022-07-21

Polish refiner PKN Orlen signed an agreement with the treasury in relation to its planned merger with Grupa Lotos, the company said on Wednesday.

“We have signed an important agreement with @MAPGOVPL (Ministry Of States Assets) in which we declare the continuation of investment (of) @Grupa Lotos. It also contains the diversification of the direction of crude oil deliveries to the Gdansk refinery, reducing emissions from production and growth in new business areas”, Orlen’s CEO, Daniel Obajtek tweeted.

The Polish refiner also declared that it would maintain the proper functioning of the Gdansk refinery, which had been operating as part of Grupa Lotos before the merger.

The agreement with the State Treasury is binding over a period of 10 years.

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