Poland’s Prime Minister Mateusz Morawiecki has taken over supervision of two state-controlled oil and gas companies, PKN Orlen and Lotos, the energy ministry said on June 5.
Stripping the Energy Minister Krzysztof Tchorzewski of supervising the pair of strategic companies is a reflection of differences between him and Morawiecki over details of the upcoming takeover of Lotos by Orlen, Polish media speculate.
Orlen signed a letter of intent in late February to take over at least a 53% stake in Lotos. The deal aims to create a strong company of international importance that – possibly – also would be capable of taking part in Poland’s plans to build a nuclear power plant.
Orlen’s role in the nuclear project is also speculated to be a flashpoint between Tchorzewski and Morawiecki.
The Polish state currently controls PKN Orlen via a 27.5% stake while most of the remaining shares are held via the free float. The state’s stake in Lotos is 53.2%.
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