POLAND / LITHUANIA
Poland’s largest company branches out to Lithuania
The first petrol stations of Polish retailer PKN Orlen have been opened in Lithuania.
They replace „Ventus” stations, belonging to the Mazeikiu Nafta refinery, now managed by PKN Orlen. In September Mazeikiu Nafta announced that in four years’ time the number of their petrol stations in Lithuania and Latvia will be 120. Once this goal has been attained, the concern will branch out to Estonia. Verslo Zinios, Lithuanian daily, informed that the refinery is planning to open PKN Orlen stations not only in the Baltic states, but also in Ukraine and Germany. A detailed plan of the development of PKN Orlen’s business activity in the Baltic states is to be presented Thursday at a conference in Vilnius. The subject has already been brought up at a press conference of Orlen’s representatives in Warsaw. According to what they said, PKN Orlen’s objective is to achieve over 20% of the market share in the Baltic states, which equals 230 petrol stations, reports Rzeczpospolita. The majority of Lithuanian petrol stations belong to LUKoil, Russia’s largest oil company. Mazeikiu Nafta owns 34 station. Currently PKN Orlen is in possession of 90.02% of the company’s shares, with the rest belonging to the Lithuanian government.