Polski Koncern Nft. (POKD) - Agreements between ORLEN Group and Lukoil Group
RNS Number : 9297R
Polski Koncern Naftowy Orlen S.A.
23 November 2012
Agreements between ORLEN Capital Group and Lukoil Group
Regulatory announcement no 231/2012 dated 23 November 2012
Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 22 November
2012 it signed a spot agreement with Lukoil International Trading And Supply
Company, company belonging to the Lukoil group, for crude oil deliveries to AB
ORLEN Lietuva. The estimated net value of the agreement amounts to
approximately USD 78 million (i.e. approximately PLN 250 million, based on the
average PLN/USD exchange rate as of 22 November 2012, as stated by the
National Bank of Poland).
The total estimated value of agreements signed between PKN ORLEN, its
subsidiaries (ORLEN Capital Group) and companies from the Lukoil group in the
period between 4 February 2012 and 23 November 2012 amounts to approximately
PLN 2 464 million.
Agreement dated 2 April 2012 is the agreement with the highest amount from
among all agreements concluded between ORLEN Group and Lukoil group in the
period between 4 February 2012 and 23 November 2012. The estimated value of
the agreement amounts to approximately EUR 86 million (i.e. approximately PLN
358 million, based on the average PLN/EUR exchange rate as of 2 April 2012, as
stated by the National Bank of Poland). The agreement was concluded between
Unipetrol Slovensko and Lukoil Slovakia and concerns fuels and LPG sales in
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.
This information is provided by RNS
The company news service from the London Stock Exchange
MSCBUBDBXUDBGDX -0- Nov/23/2012 15:54 GMT
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