Lotos to keep its investment plans intact – CEO

Paweł Olechnowicz, CEO of WSE-listed fuel giant Lotos, said that his company won’t change its investment plans due to the falling prices of crude oil. “We will relate to what will be going on the market in terms of our investment plan, there are many risks, but so far there are no threats as far as the development of the extraction in the Baltic Sea is concerned,” Olechnowicz said. He added that Lotos hopes that the prices will rebound in 2015. “It is difficult to say, when the bottom will be reached. … The declines will halt in the end; by the end of 2015 oil will be returning to levels from mid-2014, i.e. $70-80 per barrel,” Olechnowicz concluded