PKN Orlen signs zl.3.5 billion gas, diesel supply deals
Oil giant PKN Orlen has signed three contracts with a combined value of
zl.3.5 billion for the sale of gasoline and diesel. BP Polska, a unit of
Britain's BP Plc, has contracted to purchase gasoline worth zl.1.58 billion,
while Shell Produkty Polska has agreed to buy gasoline valued at zl.1.22
billion from the Polish supplier. Under the third of the contracts, a local
unit of Norway's Statoil will purchase diesel oil with an estimated value of
nearly zl.721 million. In related news, PKN Orlen has announced plans to
expand its petrochemicals operations in cooperation with Basell Europe
Holdings, a company jointly owned by Shell and BASF. According to PKN Orlen
deputy president Krzysztof Cetnar, the investment is the company's response
to the increasing demand for petrochemicals in Poland. "Currently the bulk
of petrochemicals are imported. After the expansion we will be able to
increase our share of the market to some 60%," he explained. The value of
the investment is estimated at $550 million. (Rzeczpospolita, p. B2;
Reuters) A.Z.
