Orlen with a license to import fuels

Polish largest oil refinery PKN Orlen has obtained a 10-year license from Energy Regulatory Office (URE) to import liquid fuels to Poland and to sell liquid fuels in the foreign markets, the company informed on Thursday. The company had filed an application for the license in 2014, after a new law came into force requiring oil companies to pay a security deposit and apply for licenses. “The main aim of the new rules was to bring illegal fuel trade to a halt and thus diminish the budget loss caused by unpaid taxes. The state also wanted to make sure that the legally required limits ensuing Poland's liquid fuel security, are fulfilled,” Orlen informed. PKN Orlen has paid PLN 10 million as the security deposit. PKN Orlen is Poland's largest oil refiner and petrol retailer. It operates in Poland, Czech Republic, Germany and the Baltic States.