Grupa Lotos' margins to fall but mergers remain unlikely
"In terms of macroeconomic conditions, next year will certainly be worse than the current one," said Mariusz Machajewski, deputy president of Grupa Lotos.
However, the firm does not believe that the refinery margins will fall to zero as some analysts forecast. "On the eve of the financial crisis, it was said that the Polish fuel market can develop at an annual pace of 4-6 percent. We corrected our initial assumptions and now expect that the growth rate will be much lower," said the deputy president.
Deputy Treasury Minister Krzysztof Żuk stated that the Ministry is not conducting any activities aimed at merging Lotos and Orlen, as both of them should now focus on fulfilling updated strategies.
Source: Parkiet (M.M.)
However, the firm does not believe that the refinery margins will fall to zero as some analysts forecast. "On the eve of the financial crisis, it was said that the Polish fuel market can develop at an annual pace of 4-6 percent. We corrected our initial assumptions and now expect that the growth rate will be much lower," said the deputy president.
Deputy Treasury Minister Krzysztof Żuk stated that the Ministry is not conducting any activities aimed at merging Lotos and Orlen, as both of them should now focus on fulfilling updated strategies.
Source: Parkiet (M.M.)
