PKN Q4 results hit by cheap oil, weak zloty-paper

Poland's top oil refiner PKN Orlen's PKNA.WA results in the fourth quarter were negatively impacted by lower oil prices and weaker zloty, the company's CEO Jacek Krawiec was quoted as saying on Tuesday.

Krawiec also said the company which now owns 90 percent of Mazeikiu Nafta, a Lithuanian refiner, may seek an investment partner for Mazeikiu if the plant's efficiency does not improve.

"I can't rule out that we'll be forced to seek an investment partner (for Mazeikiu)... This is a hypothesis for the event that other instruments of lifting efficiency fail," Krawiec told daily Rzeczpospolita in an interview.

Source: By Kuba Jaworowski,Hans Peters
reuters.com