Orlen: the saga continues
Treasury Minister Jacek Socha said that Orlen's new CEO, to be selected next month, will have to implement a strategy that is in keeping with energy safety standards.
The document that includes the strategy on Poland's energy safety, which is being worked out by the Ministry of Economy, is to include provisions concerning the Treasury's control over Naftoport (PKN holds 50 percent now), clarification of the situation of the pipeline system, privatization of the fuel storage company Naftobazy, which would include the creation of an integrated logistics operator, as well as the question of oil reserves and supplies.
The third stage of PKN's privatiza-tion requires the agreement of the Council of Ministers, which thus far has not made any decision on the issue.
"The government has not made any decision concerning Orlen's privatization," says Socha. Currently, the Treasury is waiting for Nafta Polska, the company that is supervising the restructuring of the fuel and chemical sectors, to present the results of their study into creating a Central European regional oil concern. By September 17, the management board of PKN Orlen will get the long list of candidates for the chair positions in the company. Every member of the management board can nominate one candidate. The management board announced the candidate profile and that he/she will be chosen in cooperation with personal advisers from Korn/Ferry International Ltd. (ISB, Rzeczpospolita).
The document that includes the strategy on Poland's energy safety, which is being worked out by the Ministry of Economy, is to include provisions concerning the Treasury's control over Naftoport (PKN holds 50 percent now), clarification of the situation of the pipeline system, privatization of the fuel storage company Naftobazy, which would include the creation of an integrated logistics operator, as well as the question of oil reserves and supplies.
The third stage of PKN's privatiza-tion requires the agreement of the Council of Ministers, which thus far has not made any decision on the issue.
"The government has not made any decision concerning Orlen's privatization," says Socha. Currently, the Treasury is waiting for Nafta Polska, the company that is supervising the restructuring of the fuel and chemical sectors, to present the results of their study into creating a Central European regional oil concern. By September 17, the management board of PKN Orlen will get the long list of candidates for the chair positions in the company. Every member of the management board can nominate one candidate. The management board announced the candidate profile and that he/she will be chosen in cooperation with personal advisers from Korn/Ferry International Ltd. (ISB, Rzeczpospolita).
