Doubts arise over the privatization of Rafinery Gdanska

Lack of agreement between Rotch Energy (RE) and Lukoil has made the prospect of privatizing Rafinery Gdanska more remote. Analysts were very surprised when, during a meeting on Tuesday with Nafta Polska, it emerged that Rotch Energy presented a solo offer to purchase a 75% stake in the refinery. Yesterday Lukoil's representatives admitted they were unable to reach an agreement with RE. Unofficially, it is understood that the two companies could not come to terms on financial issues and the division of revenues in the future company. "We now have to evaluate whether RE's solo offer is realistic," said Nafta Polska's spokesperson Krzysztof Mering. "The possibility of the Rotch-Lukoil consortium split up is certainly good news for PKN Orlen although not the best news for the market," said ING Investment Management analyst Marek Swieton. Nafta Polska now needs to think about an alternative privatization plan for RG. (Puls Biznesu, p. 4) A.Z.