PKN ORLEN SA Agreements between ORLEN Capital Group and Total group
23.10.2014, 16:27aktualizacja: 23.10.2014, 16:27
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Current report No: 269/2014
Agreements between ORLEN Capital Group and Total group
Regulatory announcement no 269/2014 dated 23 October 2014Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") announces that on 22 October 2014 it signed a spot agreement with TOTSA Total Oil Trading S.A., Geneve, Switzerland, company belonging to the Total group, for crude oil deliveries to AB ORLEN Lietuva.
The total value of agreements signed between PKN ORLEN and PKN ORLEN subsidiaries ("ORLEN Capital Group") and companies from the Total group in the last 12 months amounts to approximately PLN 1,85 bn. The agreements between ORLEN Capital Group and companies from the Total group were concluded for the purchase and sale of products and purchase of crude oil. Agreement dated 23 September 2014 is the agreement with the highest value from among all agreements concluded between ORLEN Capital Group and Total group in the last 12 months.
The estimated value of the yearly agreement signed between ORLEN Deutschland GmbH and Total Deutschland GmbH amounts to approximately EUR 203 million (i.e. approximately PLN 848 million, based on the average PLN/EUR exchange rate as of 23 September 2014, as stated by the National Bank of Poland). The agreement was signed for the deliveries of fuels to ORLEN Deutschland GmbH fuel stations in Germany till 31 December 2014.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.PKN ORLEN owns 100% of the registered capital of ORLEN Deutschland GmbH. PKN ORLEN owns 100% of the registered capital of AB ORLEN Lietuva.
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| Data publikacji | 23.10.2014, 16:27 |
| Źródło informacji | ESPI |
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