ConocoPhillips meets NP to discuss stake in Orlen

Preliminary talks in which ConocoPhillips will present its strategy regarding the Polish oil sector to Nafta Polska (the major shareholder) are to be held today. According to a Parkiet source, Nafta Polska (NP) is interested in the sale, however, it wants to see if ConocoPhillips' strategy is compatible with its own. Nafta Polska has said it also intends to open talks with other potential bidders. ConocoPhillips has not yet contacted the Treasury Ministry, which owns a 10% stake of Orlen. The romance between the American group and Orlen is not a new one. For over a year ConocoPhillips has been partly responsible for the delivery of gas to Orlen's German outlets, at the beginning of 2004 the companies signed an agreement on the takeover of the Czech Unipetrol, and they have also held talks on a joint gas extraction project. (Parkiet p.1) M.G.