11.06.2019
Statement by PKN ORLEN concerning another misleading article run by Gazeta Wyborcza
It is not true that PKN ORLEN demanded from Russians ‘peanuts’ in damages for contaminated oil, as implied by an article entitled ‘Orlen wants peanuts in damages for dirty oil from Russia’, published by Gazeta Wyborcza. The article is based on pure speculation, misleading both the public and investors.
We have repeatedly reported that – as agreed at a meeting in Moscow – PKN ORLEN as well as other refineries that have been processing tainted oil were given time to precisely estimate losses caused by the supplies of contaminated oil (including additional costs incurred in connection with its processing). PKN ORLEN is currently analysing and estimating costs and potential losses resulting from the closing by PERN of the Druzhba pipeline on April 24th 2019. Having tallied up such costs and losses, PKN ORLEN will notify the suppliers of the exact amount of damages or compensation it expects for the supplies of contaminated oil. Relevant arrangements were made at the meeting in Moscow on June 3rd 2019, when ORLEN representatives were apprised of a compensation mechanism between Transneft and the oil producers.
The above will not be the only claims of PKN ORLEN against the suppliers. Some of them, in accordance with the contractual provisions, have already been enforced.
As the article published by Gazeta Wyborcza misinforms the public compromising PKN ORLEN’s reputation and misleading investors, the company will consider taking appropriate legal steps, including legal action.
