Baltic Sea investment still on for oil giant

Lotos CEO Paweł Olechnowicz assured that the oil company would go through with its B4 and B6 Baltic Sea upstream investments as well as the EFRA coking project. These projects will be profitable even at current oil prices, Olechnowicz underscored. EFRA is a coking, hydrogen production and gasoline refining project. The company has raised PLN 1 billion from a share issue and is looking to secure another PLN 1.5 billion for partial financing from the banks.