PKN Orlen In Brief: Fined by court; Candidate president; If Jukos goes under...

The Warsaw district court announced a precedent verdict, according to which PKN Orlen has to pay zł.302,000 to a company called Tymbor, which owns a gas station in Ostrołęka, and which until recently operated under the Petrochemia Płock (PP) brand name. When the oil giant changed its name to Orlen and Tymbor failed to receive support (such as the new logo banner) or reach an agreement with Orlen, the small company resigned from the contract signed in 1997 and demanded compensation which was guaranteed by the contract. (Parkiet, p. 3) ... International advisory company Korn/Ferry International Polska will present the candidate for the seat of the president of PKN Orlen on July 28. According to market analysts, such a quick decision most probably means that the person for the job has already been chosen and that the State Treasury has still a lot of influence on the oil giant. (Puls Biznesu, p. 1) ... PKN Orlen has signed long-term contracts for the purchase of oil with Swiss-based company Petroval, which is a subsidiary in the transaction between Orlen and Russia's Jukos. Although Petroval has guarantees for receiving the resource from the Russian company, it is not clear how realistic these guarantees are, as Jukos is on the verge of bankruptcy. According to Parkiet, PKN Orlen has oil supplies to last for 44 days if oil deliveries were halted. (Parkiet, p. 1) A.K.