No. 5/2016 | 11-01-2016
PKN ORLEN has signed the agreement for sales of fuels with Lukoil Polska
Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) hereby informs that on 11 January 2016 within ORLEN Capital Group there was concluded agreement with company from Lukoil group. On the basis of yearly agreement signed today between PKN ORLEN and Lukoil Polska Sp. z o.o. („Lukoil Polska”), PKN ORLEN will be selling gasoline and diesel oil to Lukoil Polska in the period from 1 January 2016 to 31 December 2016. The total estimated net value of the agreement amounts to PLN 1,3 billion.
The total estimated value of agreements signed between ORLEN Capital Group and companies from the Lukoil group in the period from 29 May 2015 to 11 January 2016 amounts to approximately PLN 1,9 billion. The agreements between ORLEN Capital Group and companies from the Lukoil group were concluded for the purchase of crude oil and sales of products.
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.