WARSAW (Thomson Financial) - Mazeikiu Nafta, a Lithuanian oil refiner owned by Poland's largest oil company PKN (58 PLN, -0,26%) Orlen, has received an insurance payout of 70 mln usd for the fire that halved its output last year. The final amount of compensation will be determined after the company completes the rebuilding of the damaged facilities in the fourth quarter, Mazeikiu said in a statement on its website today. PKN Orlen bought Mazeikiu for 2.3 bln usd last year and its former chief financial officer Pawel Szymanski said in May the company expects an insurance payout of at least 90 mln usd. "This payment is very important because it confirms the commitment of the insurance companies to cover the costs associated with the rebuilding of the vacuum distillation unit and business interruption losses," Mazeikiu's General Director Marek Mroczkowski said in the statement.