PKN Orlen and Grupa Lotos announced the completion of work on the implementation of remedial measures imposed by the European Commission in the course of the merger of the two companies. According to the announcements of the companies, the partners in this process will be Saudi Aramco, which will buy a stake in the Lotos refinery and take over part of the aviation fuel business, Hungarian MOL, which will take over 417 stations of the concern, and the Polish company Unimot, which will acquire Lotos Terminale.
– The acquisition of Grupa Lotos is a critical moment of transformation. It is not only the fulfillment of the remedial conditions of the European Commission. The partners with whom we sign contracts will set the pace for the further development of the concern – said Daniel Obajtek, president of PKN Orlen, during the ceremonial signing of the contracts with partners.
Under the agreements signed today in Warsaw, 30 percent of Rafineria Gdańska shares and the aviation fuel sector through shares in Lotos-Air BP will be taken over by Saudi Aramco, the value of the transaction was estimated at PLN 1.15 billion.
During the ceremony, the President of PKN Orlen emphasized that Saudi Aramco sets trends in the markets, is the largest oil producer in the world and a leader in modern petrochemicals.
– Saudi Aramco does not follow trends, but sets them. It is the largest oil producer in the world, a leader in the development of modern petrochemicals, has access to modern technologies, thousands of patents, and a research and development base all over the world – he said.
Orlen, along with the contracts for the Gdańsk refinery, has also signed three strategic contracts with the Saudi company. As Daniel Obajtek explained during the conference, this is a contract in the area of petrochemical analyzes and investments, an agreement on cooperation in research and development and a long-term contract for the supply of crude oil, which is to be delivered to all Orlen refineries: in Poland, Lithuania and the Czech Republic.