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Polish oil concern could acquire Lukoil gas stations in Baltics

The Polish oil concern PKN Orlen has confirmed officially that it is considering expanding its chain of filling stations in Lithuania and Latvia. The company doesn't rule out the possibility to take over at least some of Lukoil's filling stations on sale in Lithuania and Latvia, reported LETA Friday via Lithuanian Verslo Zinios business daily.

"We always monitor the fuel retail market in the Baltic countries. We do not rule out possible acquisitions if there are any attractive offers. However, this direction is less important for the retail segment of the concern than, for example, Germany, Poland or the Czech Republic," the press office of PKN Orlen said in its reply to the daily.

"As far as the expansion of the chain is concerned, we are more focused on quality, and not on quantity, in the Lithuanian market. We've been reducing costs since 2008 and quality improvements are delivering results. The chain's profitability in this country is growing," the letter said.

PKN Orlen owns 26 filling stations in Lithuania and holds 3.5 percent of the country’s fuel retail market. However, the concern has no filling stations in Latvia or Estonia.

Lukoil, meanwhile, has 115 filling stations in Lithuania and holds approximately 18 percent of the market.

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