Gov keen to suspend oil privitizations, secure sector

The Ministry of Economy is finalizing work on its new strategy for the oil sector. One of the key assumptions of the document is the suspension of privatization of oil companies. "What has been done so far, e.g. the debut of Grupa Lotos on the bourse, is enough. The State should retain its stakes in oil companies", declared Przemysław Wiper, the head of the team for diversification of energy supplies at the Ministry of Economy. According to the strategy, there will be no merger between PKN Orlen and Grupa Lotos. "The two entities should remain independent and compete with one another," stated Wiper. Moreover, the government is to issue legal regulations to protect Polish oil companies from hostile takeovers. In order to ensure energy security for Poland, a so-called logistic operator is to be established under the control of the state. The company is to be based in Płock and is to provide services related to fuel storage and transfer for all entities (currently only PKN Orlen uses the fuel pipelines). The document also points to the necessity of investments. "There are too few storage facilities and too few pipelines through which the fuel could be transported to Poland in the case of a breakdown in one of the domestic refineries", added Wiper. (Puls Biznesu, pp.1, 4-5) E.B.