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Baltic lessons for EU in dealing with a resurgent Russia By Jan Cienski November 24 2006 02:00 When European Union leaders sit down in Helsinki today with Russian President Vladimir Putin to discuss political and economic co-operation, they would do well to consider the example of Lithuania's Mazeikiu refinery. Vilnius's attempts to privatise the plant, the largest enterprise in the Baltic states, highlight the difficulties of working with a resurgent Russia. Mazeikiu is the subject of a bid from PKN Orlen, Poland's leading oil company, which wants to extend its network and keep out potential rivals. Orlen, 27.5 per cent...

Fire damages oil refinery in Lithuania Staff and agencies 12 October, 2006 By LIUDAS DAPKUS, Associated Press Writer 8 minutes ago VILNIUS, Lithuania - Fire broke out at Lithuania‘s only oil refinery Thursday, causing millions of dollars in damage and forcing the evacuation of all its workers, officials said. No injuries were reported. "The fire is still burning, but we can say now that no one has been injured," said Saulius Vorauskas, an official at the refinery, which was sold to Poland‘s PKN Orlen. Prime Minister Gediminas Kirkilas said the damage was significant. Prosecutors launched an investigation into the cause...

Lithuanians suspect Russia of dirty tricks By Judy Dempsey International Herald Tribune Published: August 7, 2006 BERLIN: Lithuanian officials asserted Monday that Russia was trying to undermine Poland's purchase of a strategic oil refinery in Lithuania by purposely delaying repairs to a crucial oil pipeline that supplies the refinery. With Russia's energy giants trying to increase their market share both in Eastern and Western Europe, analysts said Monday that the damaged pipeline could weaken competition Russia would face from Orlen, a leading Polish oil refining company. The pipeline was damaged in an accident last month. "The timing of this accident...

Lithuania Pipe Dry, Belarus Gets Oil Supplies By Andrei Makhovsky and Darius James Ross Reuters MINSK -- Russia is keeping Belarus well supplied with crude oil even though it shares a pipeline with Lithuania, which Moscow has cut off, after citing a leak, officials in Belarus said Thursday. Their comments may add to speculation that Russian pipeline monopoly Transneft used this weekend's minor leak as a pretext to cut flows to Lithuania as punishment for choosing a Polish buyer for its Mazeikiu refinery over Russian bidders. Mazeikiu was bought in May by Poland's PKN Orlen. Oil officials in Belarus said...

Lithuanian oil refinery plays down Lukoil threats - report 06.29.2006, 09:57 AM VILNIUS (AFX) - The Mazeikiu Nafta oil refinery said it was continuing to receive supplies of crude oil despite a statement from Russian oil giant Lukoil that said supplying Mazeikiu was 'not worthwhile', the BNS agency reported citing the Lietuvos Rytas newspaper. Poland's PKN Orlen is currently buying a majority stake in the refinery. Some 50,000 tons of oil had been pumped to the Mazeikiu refinery and the Butinge terminal daily for several years. However, the flow of crude started to dwindle a week ago and now amounts...

Poles act to counter Russia power plays Judy Dempsey International Herald Tribune TUESDAY, MAY 30, 2006 BERLIN Despite immense resistance from Russia, the largest energy group in Poland has signed a deal to buy a majority stake in a Lithuanian oil refinery from a subsidiary of Yukos, the energy giant that was bankrupted by Kremlin tax claims. Orlen, the biggest oil refining company in Poland, will pay $1.49 billion to Yukos International UK, based in the Netherlands, for its 53.7 percent stake in the Mazeikiu Nafta refinery. The Lithuanian government will also sell its 30.7 percent stake in the refiner...

US Court Makes YUKOS Happy // Mazeikiu nafta will be sold to a Polish company for $1.425 billion. US court lifted the ban on YUKOS foreign asset sales. Apparently, Dutch company Yukos International UK, that owns 53.7 percent of Lithuanian refinery Mazeikiu nafta (MN), will sign an agreement to sell these shares to Polish PKN Orlen for $1.425 billion today. After that, US court is to resolve the most painful issue for all parties interested in YUKOS—how the returns on MN sale shall be distributed among the disfavored oil company’s creditors. Federal US Bankruptcy Court lifted the ban on YUKOS...

Orlen in Germany PKN Orlen, Poland's largest oil enterprise, wants to take control of 2.5 percent of the German market for gas stations by 2010-this message came from Jean-Jacques Verschueren, head of the German branch of the corporation in P³ock. Each year, Orlen intends to invest 35 million euros in Germany, which will allow the corporation to increase its number of gas stations in the country by 30-40 each year. Today, Orlen has 500 gas stations in Germany.

Warsaw. (Interfax-Europe) - Top Polish fuel firm PKN Orlen signed a contract with the Czech National Property Fund (FNM) to buy a 63% stake in Unipetrol, the biggest Czech downstream oil firm, for EUR 417 mln, Orlen said in a market statement on Friday. The Polish fuel firm promised to pay CZK 13.05 bln (EUR 417 mln) for Unipetrol, 9.76% of its subsidiary Spolana and receivables owed to some of the companies in the Unipetrol group. However, the agreement allows the buyer to adjust the price after an audit, down by as much as 25% and up by as much...