PKN Orlen CEO wants to look for oil and improve the margins of profit

opublikowano: 12-02-2007, 10:39

Warsaw (Puls Biznesu) – Without the help of the state we won’t find oil, Piotr Kownacki, the new CEO of PKN Orlen fuel giant said.

Warsaw (Puls Biznesu) – Without the help of the state we won’t find oil, Piotr Kownacki, the new CEO of PKN Orlen fuel giant said.

Piotr Kownacki who replaced Igor Chalupiec as PKN Orlen CEO in January, does not want to reveal his plans to the media. He made one exception: for “Orlen Expres”, the internal magazine of PKN Orlen. The interview gives a clear signal that the role of the state in the company will grow. The energy security of the company and the country will be a priority.

“I have knowledge which may be used in contacts connected with improving the security of Orlen’s deliveries”, Piotr Kownacki stressed.

Last year, PKN produced 13.5m tons of oil, nearly 100 percent Russian oil. Piotr Kownacki believes, his company needs diversification. According to the CEO, countries like Kazakhstan, do not want to talk to the management of PKN Orlen unless it has the support of the government. That’s why the visit of Lech Kaczynski, Polish president, in Kazakhstan, planned in March, should be helpful.

The company faces the need to end integration with Czech Unipetrol, conclude the acquisition of Mazeikiu refinery which needs oil. Investors will welcome the news that the company is going to improve the margin of profit.

“I would like the program of margin improvement to be more important. I believe there are big reserves in this field. Contrary to restructuring, this is activity which does not adversely affects the employees. And it helps gain higher income as the experience of our rivals shows”, the CEO stressed.

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