Prime Minister Algirdas Butkevičius says the situation in petroleum refining company Orlen Lietuva, which operated at a loss, has now stabilised. Decreasing oil prices next year are expected to contribute to the improvement of the company's financial indicators.
Prime Minister Algirdas Butkevičius says the situation in petroleum refining company Orlen Lietuva, which operated at a loss, has now stabilised. Decreasing oil prices next year are expected to contribute to the improvement of the company's financial indicators.
"To the best of my knowledge the situation in Orlen Lietuva has improved significantly. In recent months the results have reached and exceeded the 2013 average and I believe the company will end the year successfully," the prime minister told the national radio on 23 December.
The Polish concern which manages Orlen Lietuva announced the company's activity results in July. It transpired that in the first half of 2014 the company incurred a loss of LTL 3.5 billion (EUR 1.01 billion). In 2013 Orlen Lietuva losses reached LTL 240 million (EUR 69.5 million). Meanwhile, in January-September 2013 the company's losses totalled LTL 354 million (EUR 102.5 million). Despite the losses PKN Orlen has assured that it will not close down Orlen Lietuva plant in Mažeikiai.
