Lithuanian Prime Minister: Orlen's success is our success
Lithuanian Prime Minister Saulius Skvernelis said on Friday that the success of Polish oil firm PKN Orlen's Lithuanian subsidiary Orlen Lietuva is a success for everyone.
Skvernelis was visiting the Orlen Lietuva refinery in Mazeikiai, Lithuania, where he met the company's new director general, Michal Rudnicki. Skvernelis emphasised the importance of the Polish investment carried out in Lithuania more than 10 years ago, when PKN Orlen bought the refinery, and gave his assurance that the Lithuanian government would make every effort to ensure suitable conditions for further investment in the facility.
The Lithuanian PM expressed satisfaction with an agreement reached last year between Orlen Lietuva and Lithuanian rail company Lietuvos Gelezinkelai (LG) concerning rates for the transport of oil products and mutual liabilities for the years 2014-2016. LG CEO Mantas Bartuska, who was also present at the event, noted that Orlen Lietuva is an important strategic partner of the Lithuanian railway. "We are interested in increasing the transport of Orlen Lietuva products," he said.
Orlen Lietuva Director General Michal Rudnicki gave his assurance that his team "works with awareness of the refinery's importance to the region's energy sector and the Lithuanian economy." "We are not only the leader in delivering fuel in Lithuania and the Baltic States, but also the biggest Lithuanian tax payer as well as an important job provider," Rudnicki said.
In a press release on Friday, Orlen Lietuva pointed out that since 2006, PKN Orlen had invested more than a billion dollars in modernising the Lithuanian refinery. Planned and ongoing investments for the years 2017-2018 stand at between USD 150 million and 200 million. In 2006, PKN Orlen bought 53.7 percent of shares in the refinery's owner, Mazeikiu Nafta, from Jukos for USD 1.49 billion and later bought a further 30.66 percent through a contract with the Lithuanian government for more than USD 852 million. After buying the Lithuanian government's remaining 10 percent stake six years ago, and buying up the stakes of smaller investors, PKN Orlen now owns 100 percent of the Lithuanian refinery, which was rebranded as Orlen Lietuva in 2009