PKN Orlen turns its sights on Lithuanian refinery

"When the sale of shares is announced we will definately take part in it," he disclosed. Over 53% of Możejki's shares belongs to Russia's Jukos, while the Lithuanian government owns 40.6%. According to Parkiet, both stakes may be put for sale. Apart from the Lithuanian takeover, Orlen is interested in the Turkish oil concern Tupras and Aral gas stations in the Czech Republic. All these plans stem from Orlen's strategy which envisages, "Entering businesses with a high return on investment." The strategy has been criticized by Andrzej Szczęśniak, an oil analyst with the Adam Smith's Center. He believes that Orlen's main problem is that it is badly structured. In related news, PKN Orlen group's net result for Q2 was in accordance with market expectations and amounted to zł.698.1 million. The revenues were 12% higher than in the same period 2004 and amounted to zł.5.58 billion. So far the results do not include the acquisition of Unipetrol, which was finalized in May. (Parkiet, pp. 1, 5) A.F.