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Polish energy giant Orlen holds steady on fuel prices amid market uncertainties

09.10.2023 19:00
In a climate where global events often drive up oil prices, Polish oil company Orlen has committed to a steady pricing policy for the coming weeks, dismissing concerns that geopolitical unrest and Poland's approaching parliamentary elections will influence its strategy. 
Daniel Obajtek.
Daniel Obajtek.PAP/Marcin Gadomski

Daniel Obajtek, the CEO of Orlen, conveyed this assurance in a statement to the Polish Press Agency (PAP) on Monday.

In recent weeks, speculation and accusations of potential fuel price hikes after the parliamentary elections, scheduled for October 15, have permeated public discourse in Poland.

Obajtek addressed these claims, framing them as politically motivated actions intended to induce concern.

Orlen, which plays a crucial role in Poland's energy sector, considers the stability of the economy as pivotal for its own steadiness.

"The stability of the economy directly translates into the stability of the corporation," Obajtek said.

Discussing the company's ability to navigate through the upheavals in the commodity markets caused by the attack on Israel, Obajtek detailed how Orlen has diversified the sources of its oil supplies and entered into long-term contracts to ensure continuity in its current pricing policy.

While Obajtek acknowledged that global commodity prices have always been highly sensitive to geopolitical risks, he confirmed Orlen’s stance to keep prices stable.

“Unless unforeseen macroeconomic events occur, fuel prices will not change,” he pledged.

In a concluding remark, Obajtek called for responsible communication and actions from all, especially during a time when the nation faces "hybrid attacks" generated beyond its eastern border, in both Minsk and Moscow.

Orlen is Poland’s largest company, with a significant influence in the Central European energy sector.

(rt/gs)

Source: PAP