An extraordinary general meeting (EGM) of Poland's dominant oil and gas group, PKN Orlen, has given the go-ahead for a merger with domestic rival Lotos Group.
The European Commission (EC) gave the green light on Monday for the takeover plan of Polish fuel firm Lotos Paliwa, which runs the Lotos Group's network of filling stations, by Hungary's national oil firm, MOL.
The takeover by PKN Orlen, the dominant Polish fuel firm, of its smaller rival, the Lotos Group, should be completed in late July or early August, and the takeover of gas company PGNiG in late September to early October, PKN Orlen's CEO has said.
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The CEO of Poland's dominant oil and gas company, PKN Orlen, has said that the European Commission (EC) should give the final green light to the takeover of its rival Lotos Group within several days.
A total of 185 petrol stations in Slovakia and Hungary being taken over by Polish oil and gas company PKN Orlen will change their brand into the Polish one including 79 stations currently branded as Lukoil, Orlen has announced.
Mateusz Morawiecki, the prime minister, has dismissed opposition calls for the dismissal of Daniel Obajtek from the post of PKN Orlen CEO owing to his plans to sell off some assets to Hungarian petroleum company MOL.
Poland's fuel group, PKN Orlen will invest into an air separation unit for oxygen and nitrogen production at the Plock refinery, the company announced on Tuesday.
Poland's biggest oil company will take over 25 petrol stations in Slovakia and will become one of the five biggest fuel station operators in that country.
PKN Orlen, Poland's largest oil and gas company, has said that following Russia's invasion of Ukraine it ordered additional supplies of oil to make the Polish system independent of Russian imports.
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