Polish refiner weighs move into oil drilling

Warsaw, PolandWarsaw- PKN Orlen, Poland's biggest refiner, plans to extract oil and gas in Poland, the Baltic Sea and possibly Ukraine and Africa, the company's new head told the Puls Biznesu business daily Tuesday.

PKN Orlen intends to cooperate with Kuwait Energy Company, and the two companies are working on a project in the Baltic that's "only the beginning" of the partnership, the Dziennik daily reported.

"Orlen, in addition to refining oil" and sales, should take up "seeking and extracting raw energy," chief executive Jacek Krawiec told Dziennik.

PKN Orlen is also talking with Polish gas monopoly PGNiG in pursuit of that goal, the paper said.

Krawiec took over as CEO on Thursday. His predecessor Wojciech Heydel resigned as amid reports of disagreement within the management board.

The Polish state holds at least 28.5 per cent of PKN Orlen's shares and has previously pressured the company to resolve internal differences and present a new strategy. (dpa)