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The Warsaw Voice » Business » August 16, 2018
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Fuel giant looks abroad
August 16, 2018   
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Daniel Obajtek
Listed fuel firm PKN Orlen is looking for acquisitions of gas stations outside Poland, CEO Daniel Obajtek told a news conference.
"We are thinking about expanding retail network outside of Poland," Obajtek said. "We are interested in countries where Orlen or our units are already present," he added.
Talks underway concern Czech Unipetrol and Orlen Lietuva, Obajtek indicated.
In Poland, where talks about acquiring Lotos are underway, no other acquisitions are planned, Obajtek said, adding that organic growth will include 25 new stations this year and 40 next year.
Meanwhile, Orlen struck a deal with Lithuanian railways, assuming increased railway transport volumes by the firm by several hundred thousand tons a year, and will in return see a link to a Latvian port of Renge.
"We are currently importing to Poland 600 kt of diesel annually from Mazeikiai," Obajtek said. "Eventually, thanks to a deal with Lithuanian railways, we want to increase supplies by several hundred thousand tons," he added.
The deal also assumes the railways will start rebuilding the Mazeikiai-Renge railway link, the shortest way for Orlen's fuels to markets in Latvia and Estonia. The reconstruction of the line, disassembled 10 years ago, is expected by end-2019.
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