PKN (51 PLN, -1,83%) Orlen may keep buying competitors abroad to gain access to new markets and benefit from rising demand for fuel. Our view: PKN has already announced that it is generally interested in further growing opportunities abroad but there are no exact plans for acquisitions. According to the previous comments of the management PKN might be interested in JV opportunities in upstream in Kazakhstan. There are also plans of Unipetrol (312 CZK, 0,00%) to acquire petchem/chemical assets in the region. In refining, however, there are almost no targets left.