Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN) says that on 31 January 2013 AB ORLEN Lietuva, PKN ORLEN's subsidiary (ORLEN Lietuva) signed one-year agreement with Souz Petrolium SA (Souz Petrolium).

The agreement was signed for the sales by ORLEN Lietuva of high sulfur fuel oil to Souz Petrolium for the period between 1 January 2013 to 31 December 2013. The total estimated net value of the agreement amounts to USD 964 m (i.e. approximately PLN 2 976 m, based on the average PLN/USD exchange rate as of 31 January 2013, as stated by the National Bank of Poland).

The total value of agreements signed between PKN ORLEN and companies from ORLEN Group and Souz Petrolium in the last 12 months amounts to approximately PLN 3 301 m.

The agreements between PKN ORLEN and and companies from ORLEN Group and Souz Petrolium were signed for the sales of products and crude oil purchase.

Tags: PKN ORLEN