Polish oil major PKN Orlen is reportedly hoping to expand its petrol retail operations in the Baltic states over the coming years, Reuters has revealed.
<p>According to the publication, PKN has set its sights on the Latvian market, which it has yet to penetrate, and the Lithuanian market, in which it currently operates 27 petrol stations under the Ventus brand. By 2012, PKN Orlen intends to have a 10% to 15% share of these markets. <br /><br />We would like to have at least 10% and 15% would be better, of Lithuanian and Latvian markets, Wojciech Heydel, deputy chief of PKN Orlen, informed Reuters. When it comes to Estonia, the decision has not yet been made.<br /><br />Mr Heydel is reported to have said that the firm is aiming to own about 100 petrol stations in each region. Reuters revealed that the stations could be established through small acquisitions, and reported Mr Heydel as saying that the firm would rebrand these stations as Orlen, rather than Ventus.<br /><br />According to Thompson Financial, Cezary Filipowicz, deputy chief executive of PKN Orlen, also confirmed that the company has no plans to divest its German retail operations. <br /><br />The publication cited Mr Filipowicz as saying: Orlen Deutschland is recording very good results. We have 504 stations and we are looking for ways to expand. We are not in talks with anyone on the sale of the business. This is not a priority for the time being.</p>