Polski Koncern Nft. POKD Agreements between ORLEN Group and Lukoil Group

  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 
2012.



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

END


MSCBUBDBXUDBGDX -0- Nov/23/2012 15:54 GMT
 
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