PKN Orlen expects to maintain margins in ’15 downstream on … – Banker

PKN Orlen expects to maintain margins in '15 downstream on … – Banker

PKN Orlen expects that in 2015 the downstream margin will remain at the same level as in 2014 years and will amount to over $ 11 per barrel – said Vice President Slawomir Jędrzejczyk PKN Orlen. The condition is to keep oil prices at their current levels.

“If oil prices during the year will go up, it will hurt margins. If you remain at current levels, it is at a moderate pace GDP growth and moderate consumption, margin downstream should be at a level similar to 2014 years, which will amount to over $ 11 per barrel. This is the level for us

satisfactory “- said during a teleconference Jędrzejczyk.

Model downstream margin increased at the end of 2014 years 3.6 USD / b year on year and amounted in the fourth quarter of 12.4 USD / b. Average margin downstream last year was approximately US $ 11.35 / b. (PAP)

pr / JTT /