The EC has approved a EUR 158 million Polish measure to support LOTOS Green H2, an SPV owned by PKN Orlen SA, in the production of green hydrogen to be used in refinery production processes.
The European Commission (EC) has approved Saudi Aramco and Hungary’s MOL as buyers of some assets in connection with the merger of Poland’s dominant oil and gas company, PKN Orlen, with its smaller local peer, Lotos, the EC vice-president has said.
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There is no risk of an uncontrolled sale of a stake in Rafineria Gdańska acquired by the Saudi Arabian Oil Company (Saudi Aramco), as the deal is secured by general and contract law, a spokesperson for the Polish government has said.
Polish refinery Rafineria Gdańska and fuel importer Unimot have been put on a protected entities list by the Polish government after concerns were raised over Rafineria Gdańska's sale to Saudi firm Aramco.
Zbigniew Ziobro, Poland's justice minister and prosecutor general, has said he is not aware of any specific provisions of a Polish fuel firm's sale of a stake in a refinery to the Saudi Aramco oil conglomerate.
Hungarian fuels company MOL plans to introduce its brand to the Polish market "immediately," the company said in a press release on Thursday.
PKN Orlen, Poland's leading oil and gas company, has signed a USD 610 million deal with its Hungarian competitor, MOL, for the sale of the Polish firm Lotos Paliwa (Lotos Fuels), which runs a network of petrol stations.
Poland's dominant petrochemicals group, PKN Orlen, has signed a deal with Saudi Arabia's Aramco Overseas Company on the sale of a 30-percent stake in the refinery of Lotos as part of remedial measures related to its merger with its smaller local peer.
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