PKN Orlen eyes other oil deposits in North America

PKN Orlen is considering the acquisition of another oil deposit located in North America still this year, chief executive Jacek Krawiec told Dziennik Gazeta Prawna on Tuesday. The refiner's CEO informed that Orlen has already invested PLN 1.2 billion in Canadian deposits. He said that its not the company's last word. "This year, we want to complete another acquisition in North America, capitalizing on attractive pricing of upstream assets." Krawiec also pointed out that the refiner is not ruling out involvement in shale gas exploration in Poland. "We still think that it's a matter of time until technologies allowing regular industrial production (of shale gas in Poland) arrive." Orlen Upstream, a PKN Orlen subsidiary, has access to Canadian oil deposits since 2013, when it acquired TriOil Resources.