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Nafta Polska upheaval threatens PKN-Mol.(Companies)
Upheaval at Nafta Polska, the state-controlled holding company overseeing oil-sector privatisation and restructuring in Poland, has cast serious doubts over plans to merge the country's main oil firm, PKN Orlen, and Hungarian oil and gas group Mol.
In a surprise move on 12 March, the Polish government fired Nafta Polska's supervisory board, saying it was unhappy with the speed of restructuring in the oil sector. Following the appointment of a new board, the government has decided to revive the idea of merging PKN with Grupa Lotos, whose main asset is the 90,000 b/d Gdansk refinery.
Nafta Polska is expected to draft a plan by the end of March to combine the …
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