Orlen unhappy with Q1 result cites economic troubles

"The reason for this was the unfavourable macroeconomic environment. The most painful was the fall in refinery margins and unfavourable price differences between Ural and Brent oil. During the three months our costs have also significantly risen due to the very severe winter," said Orlen's president, Igor Chalupec. He went on to explain, however, that he expects an improvement in the results. PKN Orlen's share price fell yesterday on the Warsaw Stock Exchange by 2.5%. (Puls Biznesu, pp. 11, 17) A.K.