On Tuesday 14 July, the European Commission cleared the acquisition of Grupa Lotos by PKN Orlen, two major Polish oil and gas companies.
Margrethe Vestager, Executive Vice President in charge of Competition Policy, stressed that the extensive commitments proposed by PKN Orlen “will ensure that the relevant Polish markets remain open and competitive and that the merger will not lead to higher prices or less choice for fuels and related products for businesses and consumers in Poland and the Czech Republic”.
To address the Commission's concerns, PKN Orlen proposed a series of commitments, including: - divesting themselves of a 30% stake in the Lotos refinery; - divesting themselves of nine fuel depots to an independent logistics operator and to build a new jet fuel import terminal in the Polish city of Szczecin; - divesting themselves of 389 service stations in Poland, representing approximately 80% of the Lotos network, and supplying these stations with fuel; - selling Lotos' 50% stake in the jet fuel marketing joint venture with BP; - making up to 80,000 tonnes of jet fuel per year available to competitors in Czechia by means of an annual open tender; - divesting themselves of two bitumen production plants in Poland and to supply the purchaser with up to 500,000 tonnes of bitumen/heavy residues per year. (Original version in French by Lionel Changeur)