Business Fuel & Energy
23:25 1 August 2022
Post by: WBJ

Former Minister of Economy criticizes Orlen's merger with Lotos

Former Minister of Economy criticizes Orlen's merger with Lotos
Source: Pixabay

PKN Orlen officially absorbed the Lotos Group on 1 August 2022. The next company to be 'swallowed' is gas giant PGNiG. The creation of the mega-corporation, or more precisely the price we are paying for it, has been criticized by the former Minister of Economy in the Law and Justice (PiS) government and a long-standing president of PGNiG under that party's rule, Piotr Woźniak.

“The main objection to this deal relates to the state's energy security, since two companies have been chosen as partners that have been cooperating with Russian companies for many years and claim such cooperation for years to come. It means that they are entering the Polish market with the doors wide open," Piotr Woźniak said on TVN24, referring to Hungary's MOL and Saudi Aramco, which are buying parts of Orlen and Lotos. The sale was a condition imposed by the European Commission.

Source: Business Insider 


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