Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) hereby informs that on 18 January 2016 within ORLEN Capital Group there was concluded agreement with company from Vitol group. The total estimated value of agreements signed between ORLEN Capital Group and companies from the Vitol group in the period from 3 October 2015 to 19 January 2016 amounts to approximately PLN 1,83 billion. The agreements between ORLEN Capital Group and companies from the Vitol group were concluded for purchase of crude oil and gas as well as sales of products.
Agreement dated 18 December 2015 is the agreement with the highest value from among all agreements concluded between ORLEN Capital Group and Vitol group in the period from 3 October 2015 to 19 January 2016. The estimated value of the agreement amounts to approximately PLN 301 million. The agreement was signed between PKN ORLEN and VITOL S.A. for sales of heavy heating oil.
In accordance with the “Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information to be published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state” the abovementioned agreements constitute a “significant agreement” due to the fact that their total value exceeds 10% of PKN ORLEN’s equity.