Mazeikiu Nafta at full production capacity

Mazeikiu Nafta at full production capacity Representatives of the Lithuanian Government, the Management Board of PKN ORLEN and Mazeikiu Nafta have today officially opened the Vacuum Distillation Unit (VDU) in AB Mazeikiu Nafta.

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PKN ORLEN has signed a credit agreement with the European Investment Bank

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 21 December 2007, it signed a credit agreement (“Agreement”) with the European Investment Bank (“EIB”) in the amount of EUR 300 million, i.e. PLN 1 085.4, based on a EUR/PLN average exchange rate as of 21 December 2007, as quoted by the National Bank of Poland.

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Squeeze-out of minority shareholders of AB Mazeikiu Nafta

Commencement of the final stage of the squeeze-out of minority shareholders of AB Mazeikiu Nafta

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More diesel and petrol from AB Mazeikiu Nafta

AB Mazeikiu Nafta has resumed operations of its visbreaking unit. The installation start-up completed the second stage of the post-fire recovery, and increased the white products yield from the same crude volume.

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Mazeikiu Nafta re-started the refurbished Vacuum Distillation Tower

Mazeikiu Nafta has re-started the refurbished Vacuum Distillation Tower February 20, Mažeikiai. AB Mažeikiu Nafta has re-started the refurbished vacuum distillation tower, which will significantly increase production efficiency. The commissioning and start-up activities on the tower commenced on February 14, and operating efficiency has significantly improved.

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PKN ORLEN calls for selling shares

On 25 January 2007 PKN ORLEN submitted to the Vilnius Stock Exchange a purchase order with respect to all shares in AB Mazeikiu Nafta owned by the minority shareholders. The Company has also signed a cooperation agreement with the Government of Lithuania with regards to the compulsory purchase of shares from minority shareholders of Mazeikiu Nafta.

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Financing of the AB Mazeikiu Nafta acquisition

Today, 29th November 2006, PKN ORLEN signed the loan agreements which will allow the acquisition of AB Mazeikiu Nafta. The two syndicated loans, for a total value of EUR 1.6bn, are provided by eight Polish and international banks.

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EC's clearance for acquisition of Mazeikiu Nafta

European Commission (European Commission Directorate General for Competition) has agreed to the purchase of a controlling stake in AB Mazeikiu Nafta by PKN ORLEN from Yukos International UK. B.V. and Lithuanian Government.

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PKN ORLEN denies speculations on Mazeikiu Nafta

PKN ORLEN categorically denies speculation that any depreciation of the Mazeiku Nafta (MN) asset value is in the Polish company’s interest. PKN ORLEN wishes to stress that the investment in MN is the biggest in the history of the Polish economy and it is in PKN ORLEN’s interest to build up the value of the transaction. Therefore, speculation on PKN ORLEN’s alleged co-operation with the MN managers to undermine the company’s value are absurd and baseless.

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