Energy, EU – Baltic States, Legislation, Lithuania, Oil, Transport

The estimated net value of the agreement amounts to approximately 79 million US dollars ( approximately PLN 250 million, based on the average PLN/USD exchange rate as of July 26, 2013, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN and STASCO in the period from April 17, 2013, to July 26, 2013, amounts to approximately USD 740 million (i.e. approximately PLN 2 402 million, based on the average PLN/USD exchange rates as of the dates of signing the agreements, as stated by the National Bank of Poland).

Agreement dated July 26, 2013, is the agreement with the highest amount from among all agreements concluded between PKN ORLEN and STASCO in the period from April 17, 2013, to July 26, 2013. The estimated value of the agreement amounts to approximately USD 79 million (i.e. approximately PLN 250 million, based on the average PLN/USD exchange rate as of July 26, 2013, as stated by the National Bank of Poland). The agreement was concluded for crude oil deliveries to ORLEN Lietuva.

In accordance with the “Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information to be published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state” the above-mentioned agreements constitute a “significant agreement” due to the fact that their total value exceeds ten% of PKN ORLEN’s equity.