Treasury considers PKN Orlen bid for Rafineria Gdanska

A decision on whether Polski Koncern Naftowy (PKN) Orlen can participate in the privatization of Rafineria Gdanska (RG) should be made within a month, said Treasury Minister Andrzej Chronowski. Yesterday PKN sent a letter of intent to oil holding company Nafta Polska saying it is ready to buy shares of RG. If the transaction happens, the new entity would control 80% of the liquid fuels market in Poland. "The government will make the decision after a discussion I am going to initiate," said Chronowski. According to him the balance between the interest of the consumer and the Treasury needs to be found. Chronowski also said there would be no permits issued for building fuel terminals on the coast until the privatization of RG is complete. (Prawo i Gospodarka, page 1)