2014-07-24 07:45:31 CEST

2014-07-24 07:46:30 CEST


REGULATED INFORMATION

Lithuanian English
Klaipedos Nafta - Notification on material event

Regarding publications concerning SC Orlen Lietuva financial results and prospects of activities


On the 23rd of July 2014, PKN Orlen, a Polish concern running the oil refinery
in Mazeikiai SC Orlen Lietuva, published the financial results of the concern
and its Lithuanian subsidiary for the first half of 2014. The public media
reports that PKN Orlen management in commenting the poor financial results of
its subsidiary SC Orlen Lietuva indicates an unfavourable macroeconomic
situation as the key reason and is considering a temporary shutdown of the
refinery from 2015 as one of possible alternatives. 

The management of SC Klaipedos nafta (hereinafter, the Company) highlights that
oil products produced by SC Orlen Lietuva constitute approximately 35 per cent
of total transhipment revenues of the Company (based on preliminary
transhipment results for the first half of 2014). 

It should be noted that the management of the Company  analyses the current
situation and searches for possible solutions and new possible alternatives of
activity in order to minimize the financial risk and negative effects on the
financial results of the Company, if the management of PKN Orlen concern
decides to temporary shut down SC Orlen Lietuva from 2015. 


         Mantas Bartuška, Director of Finance and Administration Department,
tel. 8 46 391763