Government rules out PKN Orlen from Naftobazy sell-off

The government has excluded PKN Orlen as a potential buyer of a majority stake in liquid fuels storage company Naftobazy. The reason for the decision is that Nafta Polska is seeking an investor specializing in transportation of fuels. Orlen, which would significantly lower its costs by acquiring the stake, has not given up and has announced a possible plan to form a consortium with Vopak, a company which received exclusive negotiations rights with Naftobazy in mid-April. "It all depends on the terms we receive from Vopak and Nafta Polska. It is crucial whether such a scenario would be efficient compared with other options open to us," said Orlen's deputy head, Sławomir Golonka, adding, "It is hard to imagine the privatization of Naftobazy without our participation, or our cooperation." (Puls Biznesu, p. 7) A.K.