Rotch Energy breaks ranks with Lukoil over PKN

Rotch Energy has informed Nafta Polska (NP) of its intention to withdraw from the consortium with Russia's Lukoil. "We have received a resignation letter from the British concern however we do not know if this also means the withdrawal of their common bid concerning the purchase of a 75% stake in PKN Orlen. Therefore, Nafta Polska has turned to Rotch and Lukoil to clarify this issue," said NP's press spokesperson Krzysztof Mering. "Our offer did not depend on Lukoil's participation. I would like to stress that Rotch Energy wants to become a long term investor in the refinery and regarding the conditions of the Rotch Energy-Lukoil consortium, that was not possible," claimed a source close to the transaction. According to unofficial information, NP has already received a letter from Rotch and PKN Orlen with a request to accept the latter as a new partner of the British. If Rotch Energy confirms its decision, it will in practice mean for Lukoil the end of a "play" on the current terms. "So far the Russians have acted as Rotch's partner in the consortium and in accordance with the tender rules only the British consortium is authorized to negotiate with NP," said Treasury Minister Wieslaw Kaczmarek. (Puls Biznesu, p. 3) A.Z.