Orlen plans takeovers

PKN Orlen wants to take over a number of firms next year that would increase the company's oil resources, Jacek Krawiec, PKN Orlen president said. However, the firm is not interested in investing in Kazakhstan.

"We had a number of firms on our minds, but we have narrowed it down to two. Both are listed outside our borders, both are upstream, they are not companies from Kazakhstan, but their registered in Western Europe," Krawiec told TVN CNBC Biznes. He added that a plan to purchase these firms is set for 2009.

According to the company's five year strategy plan, which was released last year, the firm intends to invest zł.12.6 million. Over zł.4 million will be invested in 2009. (AO)

Source: Reuters, PAP