Lotos counts on raising funds in December

Poland’s second-largest oil company Grupa Lotos is counting on raising funds for developing its refinery and extraction segments in December, the company’s CEO Paweł Olechnowicz was quoted as saying by the Polish Press Agency. He added that more information on the company’s petrochemical project, after a feasibility study is completed. For the time being, Grupa Lotos is focusing on investments into refineries and into hydrocarbon extraction, Olechnowicz said. In September this year, the shareholders of Grupa Lotos approved the issue of 55 million shares. The company wants to raise some PLN 1 billion from the offer.