Final stage of privatization of PKN Orlen stopped

Nafta Polska suspended its decision to sell a 17.6% stake in the PKN Orlen crude oil refinery group which would be the last stage of its privatization. Offers to buy the stake were made by Hungarian MOL and OMV of Austria. Both companies now will have to wait until the government prepares a new strategy for the future of the petrochemical sector. The representatives of MOL and OMV said they would be still interested in buying PKN Orlen's shares and Krzysztof Mering, spokesman of Nafta Polska, confirmed that his enterprise would still be interested in them as partners. Meanwhile, according to unofficial sources, PKN Orlen with Rafineria Gdanska (RG) refinery and an unknown foreign partner is creating a joint venture and is preparing a zl. 1.2 billion project to construct an environment friendly complex where refuse from crude oil production would be treated. This project has been under consideration for few years and was prepared by MW Kellog for a potential British investor, Roth Energy who was interested in buying a 75% stake in RG. Even if Roth doesn't participate in RG's privatization, which is probable, this project will become RG's property. (Reuters; Puls Biznesu, pp. 1, 8; Rzeczpospolita, p. B1) A.D. No radical changes planned by new Polkomtel board