Wed, 16 Jul 2008: Polish to buy gov. oil…
Jul 16, 2008 Baltics
dollars per share, from three to five years after the closure of the deal. If the shares were sold earlier, the share price would be 4.0205 U.S. dollars or 284.45 million U.S. dollars in total, ...Tags: Authorities, Closure, Euros, Expiry, Investments, Nafta, Pkn Orlen, Profitability, S Board, Share Price, Share Purchase, Zlotys
Wed, 5 Mar 2008: Ventspils Nafta negotiating oil supplies to Belarus…
Mar 5, 2008 Baltics
"These prospects are better. PKN Orlen, the owner of the Mazeikiai refinery, has also spoken publicly about several options on how to use this oil pipeline," Petersone said. On Latvian territory ...Tags: Crude Oil, Earnings, Joint Venture, Lats, Mazeikiai, Oil Pipeline, Oil Product, Oil Shipments, Oil Supplies, Pipelines, Pkn Orlen, Polotsk, Product Shipments, Prospects, Refinery, Russia, Transneft, Ventspils Nafta, Wed 5
Wed, 13 Feb 2008: PKN Orlen says Liepaja is as attractive as Klaipeda for a new pipeline…
Feb 13, 2008 Baltics
The Poles want to build a product pipeline linking Mazeikiai, where the refinery is based, to the terminal, which would enable the company to boost exports of high-end fuel products. Lithuania's ...Tags: Economy Minister, Fuel Products, Klaipeda, Majority Stake, Percent Stake, Perspective, Pkn Orlen, Product Pipeline, Refinery, Shareholder Agreement, Shares
Wed, 23 Jan 2008: Mazeikiu loses market share in 2007…
Jan 23, 2008 Baltics
"It just shows that the market is open to other producers of petroleum products," he said about the loss of market share. Mazeikiu Nafta, which is owned by Poland's PKN Orlen, is contractually b...Tags: Baltic, Diesel Fuel, Logistics, Lukoil, Market Positions, Market Share, Mazeikiu Nafta, Petroleum Products, Pkn Orlen, Poland, Producers, Refinery, Russia, Second Half, Woes
Wed, 16 Jan 2008: Maxima boosts 2007 sales, could become Baltics’ largest company…
Jan 16, 2008 Baltics
The refinery, which was sold to Poland's PKN Orlen at the end of 2006, has struggled to find a reliable alternative to Russian crude, which was cut off in July 2006 after the Lithuanian governmen...Tags: Annual Turnover, Eesti, Fourth Quarter, Latvija, Lithuanian Government, Lt, Maxima, Pkn Orlen, Poland, Prekyba, Refinery, Russian Oil
Wed, 21 Nov 2007: Russian minister: pipeline to stay dry forever…
Nov 21, 2007 Baltics
Khristenko said there were no sound economic reasons that would justify repairs to the pipeline that supplied crude to Lithuania. He also dismissed any speculation about a "crude blockade" or ot...Tags: Baltics, Belarus, Blockade, Economic Reasons, Failure, Lithuania, Mazeikiu Nafta, Monopoly, Oil Pipeline, Pkn Orlen, Poland, Refinery, Russia, Russian Minister, Speculation, Suspicions
Wed, 3 Oct 2007: Mazeikiai refinery woes deepen on all fronts…
Oct 3, 2007 Baltics
26, said the amount of lost revenue would in the end add up to tens of millions of litas. Sadzius did not provide exact figures, but other Finance Ministry officials have said that they have red...Tags: Exact Figures, Finance Ministry Officials, Late September, Mazeikiai, Nafta, Pkn Orlen, Poland, Profit Tax, Refinery, Six Weeks, Tax Payments, Tens, Woes
Wed, 19 Sep 2007: Baltic's big hitters revealed…
Sep 19, 2007 Baltics
Next is Lithuanian supermarket chain Maxima at 75th. The four Baltic respresentatives are Latvian IT reatiler Elko and electricity utility Latvenergo plus Lithuanian supermarket chains Rimi and M...Tags: Baltic, Czech Republic, Electricity Utility, Elko, Energia, Hungary, Latvenergo, Lietuvos Gelezinkeliai, Lithuania, Lukoil, Maxima, Pkn Orlen, Poland, Rimi, Skoda Auto, Supermarket Chain, Supermarket Chains, Tallink, Transtrade, Vp Group
Wed, 12 Sep 2007: Mazeikiu, Klaipeda to be linked…
Sep 12, 2007 Baltics
The tanker-delivered crude is more expensive than oil pumped through pipelines, and the refinery has seen its profitability nosedive. "We understand that our proposal to invest our capital in Kla...Tags: Board Chairman, Invest, Klaipeda, Mazeikiu Nafta, Nosedive, Oil Terminal, Pipeline, Pipelines, Pkn Orlen, Preparedness, Profitability, Proposal, Proposals, Refinery
Wed, 15 Aug 2007: Mazeikiu numbers hit the skids…
Aug 15, 2007 Baltics
31. Last December PKN Orlen bought a 53.7 percent stake in Mazeikiu Nafta from Yukos International, a subsidiary of Russia's defunct Yukos, and a 30.66 percent stake from the Lithuanian government...Tags: Central And Eastern Europe, Double Jeopardy, Export Terminal, Hiatus, Import Export, Jeopardy, Lithuania, Lithuanian Government, Mazeikiu Nafta, Oil Refinery, Percent Stake, Pipeline, Pkn Orlen, Polish Group, Resume, Russia, Skids, Subsidiary, Yukos
Wed, 8 Aug 2007: Refinery prefers to buy crude on spot contracts ’s for now…
Aug 8, 2007 Baltics
He also said that if PKN Orlen were to sign a long-term supply contract with a non-Russian supplier, Moscow would have another excuse not to repair the damaged pipeline in Belarus that has cause...Tags: Belarus, Company Officials, Contracts, Current Supply, Druzhba Pipeline, Excuse, Export Terminals, Mazeikiu Nafta, Monopoly, Moscow, Oil System, Pipelines, Pkn Orlen, Refinery, Russia, Spur, Supply Contract, Transneft, Woes
Wed, 18 Jul 2007: Poles plan defense of PKN Orlen from hostile bid…
Jul 18, 2007 Baltics
The ministry was not available for comment, the weekly wrote. The Polish state owns 30 percent of PKN Orlen, as well as blocking rights. PKN Orlen seems to harbor the same fears. The Puls Bizne...Tags: Boss, Ceo, Energy Security, Fears, Hostile Bid, Hostile Takeover, Lotos, Merger, Pkn Orlen, Poland, Polish State, Puls Biznesu, Russians, Sake
Wed, 31 Jan 2007: PKN Orlen calls for mandatory buyout…
Jan 31, 2007 Baltics
Currently PKN Orlen owns 89.26 percent of the Mazeikiai-based refinery, which means the buyout will affect some 0.74 percent of outstanding stock. PKN Orlen said it will offer 10.25 litas (2.97 e...Tags: Fuel Company, Lithuanian Government, Nafta, Outstanding Stock, Percent Stake, Pkn Orlen, Refinery, Republic Of Lithuania, Retail Fuel, Russia, Shares
Wed, 24 Jan 2007: PKN Orlen signs five-year delivery deal, promises investment for Mazeiki…
Jan 24, 2007 Baltics
Kownacki was recently appointed CEO of PKN Orlen, the largest fuel refiner and retailer in Central and Eastern Europe. He takes the place of Igor Chalupec, who helped oversee the takeover of Maze...Tags: Central And Eastern Europe, Ceo, Crude Oil Supply, Current Market, Friendship, Investment, Middleman, Nafta, Oil Trader, Pipeline, Pkn Orlen, Refiner, Signs, Supply Contract, Takeover
Wed, 17 Jan 2007: PKN Orlen takes share in Mazeikiu Nafta…
Jan 17, 2007 Baltics
PKN Orlen bought 39.87 million shares at a price of 10.25 litas (3 euros) per share, for a total 118 million euros. In addition, the Polish company may have purchased more shares on the open mark...Tags: Cessation, Deliveries, Euros, Friendship, Lithuania, Losses, Mazeikiu Nafta, Moscow, Pipeline System, Pkn Orlen, Polish Company, Shareholders
Wed, 10 Jan 2007: PKN Orlen signs supply agreement…
Jan 10, 2007 Baltics
The agreement gives PKN Orlen, the largest fuel and gasoline retailer in Central Europe, the exclusive right to supply Mazeikiu Nafta, the largest corporation in the Baltics, with crude oil. Th...Tags: Agreement States, Baltics, Belarus, Bitter Dispute, Capital Group, Central Europe, Centralization, Crude Oil, Czech Republic, Druzhba Pipeline, Gasoline Retailer, Maritime Terminal, Oil Deliveries, Oil Purchases, Pkn Orlen, Poland, Polish Company, Refineries, Russia, Signs
Wed, 6 Dec 2006: Chalupec, Kirkilas: Mazeikiu refinery deal to be finalized next week…
Dec 6, 2006 Baltics
In the meantime, a state commission investigating the fire at the refinery closed its probe on Dec. 1, saying it intended to hand the result to the government. No details were available by the t...Tags: Baltic Times, Closing The Deal, Gediminas, Lithuanian, Percent Stake, Pkn Orlen, Poland, Prime Minister, Principle, Refinery, Russian Oil Company, Subsidiary, Yukos
Wed, 29 Nov 2006: Board chairman questions Mazeikiu sale…
Nov 29, 2006 Baltics
Zolotarev said that Poland's PKN Orlen may not be in a position to purchase the Lithuanian oil refinery unless the Polish state finances the purchase, the Verslo Zinios business daily reported on ...Tags: Acquisition, Board Chairman, Cash Flows, Doubts, Lenders, Lithuanian Company, Losses, Mazeikiu Nafta, Money, Oil Refinery, Outgoing Chairman, Pkn Orlen, Poland, Polish Government, Polish State, State Finances, Verslo Zinios
Wed, 22 Nov 2006: PKN Orlen to buy Mazeikiu Oil by Christmas…
Nov 22, 2006 Baltics
After all of this, EU regulatory approval is expected by Dec. 15. "It would make a nice gift for everyone if we managed to sign the deal by Christmas," PKN Orlen president Igor Chalupec told Lithu...Tags: Bankruptcy, Christmas, Lithuanian Government, Mazeikiu Nafta, Oil Refining, Percent Stake, Pkn Orlen, Polish Group, Prime Minister, Regulatory Approval, Russia, Technical Matters, Warsaw, Yukos
Wed, 11 Oct 2006: Russia says Druzhba-1 pipeline needs more time…
Oct 11, 2006 Baltics
"After we understand what caused the problem, we can determine how to fix it." Druzhba-1 provides a direct connection of Russian crude to Lithuania's Mazeikiu oil refinery, a facility once control...Tags: Const, Excessive Pressure, Infrastructure Safety, Oil Giant, Oil Refinery, Pipeline, Pkn Orlen, Poland, Russian Oil, Safety Agency, Technical Aspects, Transneft, Western Russia, Yukos
Wed, 27 Sep 2006: Controversy around pending Mazeikiu Nafta sale…
Sep 27, 2006 Baltics
25, opined that KazMunayGaz is propping up the value of the refinery, only to dig into its deep pockets and purchase it later. KazMunayGaz has reportedly suspected that PKN Orlen does not want to ...Tags: Controversy, Deep Pockets, Denials, Kazakhs, Kazmunaygaz, Lithuanian Government, Lukoil, Mazeikiu Nafta, Money, Moscow, Pkn Orlen, Polish Company, Refinery, Russia, Russian Company, Speculation, Stake
Wed, 30 Aug 2006: PKN Orlen’s appetite unabated despite troubles…
Aug 30, 2006 Baltics
It's worthwhile to consider interesting transactions, the more so because there are very few of them left. At the moment, we are focusing on our latest acquisitions." PKN Orlen recently signed $2...Tags: Acquisitions, Appetite, Deliveries, European Commission, Mazeikiu Nafta, Oil Refinery, Pipeline, Pkn Orlen, Russia, Russian Oil
Wed, 7 Jun 2006: Lawmakers approve Mazeikiu Nafta deal…
Jun 7, 2006 Baltics
Everything has been done as far as the legal side goes," Brazauskas said on May 31. "In practice, [the agreements] can be approved within one day. A decision must be made as soon as possible becau...Tags: Creditors, Current, Different Situation, Lawmakers, Mazeikiu Nafta, Parallels, Pkn Orlen, Poland, Russian Companies