OREANDA-NEWS. February 04, 2014. Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) announces that on 28 January 2014 AB ORLEN Lietuva (“ORLEN Lietuva”), PKN ORLEN’s subsidiary, signed one-year agreement with VITOL S.A., company belonging to the group of Vitol Holding B.V. („Vitol Holding”).

The agreement was signed for the sales by ORLEN Lietuva of high-sulfur fuel oil (HSFO) to VITOL S.A. for the period between 1 January 2014 and 31 December 2014. The total estimated net value of the agreement amounts to USD 954 million.

The total estimated value of agreements signed between PKN ORLEN and PKN ORLEN subsidiaries (“ORLEN Capital Group”) and companies from Vitol Holding group in the period between 13 December 2013 and 28 January 2014 amounts to approximately PLN 4,783 million. The agreements between ORLEN Capital Group and companies from the Vitol Holding group were concluded for the sales of products as well as purchase of crude oil and gas.