12/26/2006

Poland's oil concern PKN Orlen to buy crude oil from Mideast

PKN Orlen oil concern does not rule out the possiblity of buying crude oil from the Middle East, said Igor Chalupec, CEO of Poland's PKN Orlen, on Friday.

PKN Orlen is importing crude oil from Russia and Venezuela, the PAP news agency quoted Chalupec as saying.

Talks are under way, but it is difficult to say when they will end and whether they will be successful, Chalupec was quoted as saying.

PKN Orlen is the largest petroleum product retailer in Poland and Central Europe. It finalized the transaction to buy a 30.66- percent stake in the Mazeikiu refinery from the Lithuanian government last week, thus making PKN Orlen's stake in Mazeikiu to 84.36 percent.

Mazeikiu is the biggest refinery in the Baltic states with a maximum processing capacity of 10 million tons annually.

Source: english.people.com.cn



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