Agreements between ORLEN Capital Group and Statoil Fuel & Retail group

No. 14/ 2013  | 10-01-2013


Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") announces that on 10 January 2013 the Management Board of AB ORLEN Lietuva ("ORLEN Lietuva") signed one-year agreement with Statoil Fuel & Retail Lietuva, UAB.

The agreement was signed for the sales by ORLEN Lietuva of gasoline and diesel oil to Statoil Fuel & Retail Lietuva, UAB for the period between 1 January 2013 and 31 December 2013. The estimated net value of the agreement amounts to USD 330 m (i.e. approximately PLN 1 026 m, based on the average PLN/USD exchange rate as of 10 January 2013, as stated by the National Bank of Poland).

The total value of agreements signed between PKN ORLEN and PKN ORLEN subsidiaries and companies from the Statoil Fuel & Retail group in the period from 4 February 2012 to 10 January 2013 amounts to approximately PLN 2,47 bn.

The agreements between PKN ORLEN and PKN ORLEN subsidiaries and companies from the Statoil Fuel & Retail group were concluded for the 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.

PKN ORLEN owns 100% shares in ORLEN Lietuva.

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