Basic conditions remain unfulfilled in Orlen deal

Oil concern Orlen still has to fulfill some basic conditions in order to become a fully privatized company. These include Naftobazy's participation in the privatization process, the purchase of the Zakłady Azotowe nitrogen plants, in Tarnów and Kędzierzyn, and the sale of shares in Naftoport. The third phase of privatization of the concern will most probably be finished next year, after Grupa Lotos enters the stock exchange. Currently the state owns a 27.5% stake in the concern, 17.5% of which belongs to the Treasury-controlled Nafta Polska. In related news, PKN Orlen's supervisory board will today choose the president of the concern. One of the most serious contenders is Paweł Olechnowicz, president of Grupa Lotos. Questions concerning the purchase of Unipetrol will also be discussed at the meeting. (Parkiet, p. 6) A.F.