Poland looks East
Posted:01 December 2008
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PKN Orlen, Poland’s largest oil company, has expressed a desire for partnerships with Middle Eastern firms.
In exchange for access to oil deposits, PKN wants to offer refining services in return said its Chief Executive. “We want to become present in an upstream segment with the help from partners in the Middle East,” Jacek Krawiec told the Polish daily Dziennik.
“In return we could offer access to our refining installations, for example in Mazeikiu (PKN's Lithuanian refinery) and to our retail network.”
Recently, the Polish company has been making attempts to streamline its operations in order to ensure the corporation’s growth. It is in the process of selling its telecommunication businesses and has also plans to sell of its chemical subsidiary Anwil.
The decision to allow Middle Eastern companies to buy a stake in PKN Orlen would need to be approved by the Polish government, who is the company’s majority stakeholder.
The Polish Prime Minister has recently concluded a tour of the Middle East. Donald Tusk met with the Emir of Qatar to discuss Qatari gas supply to Poland as well as common investments in the power engineering and chemical industries.
Tusk also announced the creation of a “mini-ministry” in the Polish Information and Foreign Investment Agency for running Qatari and Kuwaiti projects.
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