Rafineria Gdanska and PKN Orlen offered shares in Glimar Refinery

Nafta Polska has offered PKN Orlen and Rafineria Gdanska (RG) a stake in the Glimar Refinery as the oil company desperately needs money to continue the c onstruction of a hydrocomplex installation. At the same time, Nafta Polska, which is responsible for the restructuring and privatization process of the fuel sector in Poland, is currently looking for solutions to enable southern Poland's refineries to survive on the market. One option envisages merging t he capital of the refineries with PKN Orlen and RG. Several years ago PKN Or len became the majority shareholder of Trzebinia Refinery as well as Rafiner ia Nafty Jedlicze. As yet, no company is interested in the Jaslo, Czechowice , or Glimar Refineries. "Recently Nafta Polska - which has the majority stak e in these refineries - has been trying to encourage PKN Orlen and RG to inv est in the purchase of Glimar shares," said a representative of the oil sect or. RG refused to comment on the issue and Ireneusz Wypych from PKN Orlen sa id that the problem of the southern refineries is being analyzed by the comp any. Glimar Refinery's situation is worsening due to increasing competition from PKN Orlen as well as Czech and Slovak refineries. (Puls Biznesu, p. 3) A.Z.