Lukoil sets its terms to supply the nation with oil

"We can export oil to where it is beneficial," said Lukoil's deputy president Leonid Fedun during a press conference on Monday. "Poland receives oil on exceptional terms. We can become a big supplier of oil if the market will open up," he added. The Russian company would like to sell its product on the basis of a long-term contract, which is unacceptable for PKN Orlen. Although the Polish company saw its supplies cut in December 2004 from one of its two suppliers - Petroval, connected with Yukos, it does not plan to sign another several year contract. Orlen president, Igor Chalupec, said that currently oil is purchased on the basis of spot transactions, which are often very beneficial in terms of price. (Rzeczpospolita, p. B3) A.K.