Southern discomfort

Completion of the issue prospectus that was due in December will also be pushed back. The delay comes as a result of the unfinished integration of Lotos with the southern refineries, in particular the Glimar refinery, which is experiencing serious difficulties and unanswered questions over how capital will be raised for the IGCC waste product complex. Now the main goal for Lotos is convincing potential investors that after the inclusion of the southern refineries and Petrobaltic, it will be able to act successfully as a group. (Poland A.M.)