Piotr Kownacki states the energy security as his highest priority and greater government involvement helping the company establish contacts, with for example foreign powers, is necessary. Kownacki speaks about the need to diversify the company's oil supplies. He said that countries like Kazakhstan and Azerbaijan, where Orlen could get access to oil deposits don't want to talk with his company unless it has the support of the Polish government. That is why the visit of President Lech Kaczynski to Kazakhstan in March is so important.
Our view: As we have expected, with the replacement of Mr.Chalupec the political risk for PKN Orlen will increase. We see it as negative for a long term, however do not await the news to have a trading impact for today.