Second quarter set to be much better for fuel producers

The first three months of the year were not kind to fuel producers. PKN Orlen may have earned around zł.100 million less in net profit and zł.300 million less in operating profit. "Small refinery margins and small differences in the prices of Ural and Brent oil reflect negatively in Lotos' results," says Flawiusz Pawlik, an analyst with DM BZ WBK. The next few months should see an improvement in the results of both Grupa Lotos and PKN Orlen. One of the most important external factors for domestic fuel producers are refinery margins. "Margins started to improve in March. We are experiencing a slight correction at the moment. (Parkiet 24 April p.3) S.D.