Polish refiner PKN cuts 2009-2013 spending by 29%

摘要

Warsaw-Poland's largest refiner, PKN Orlen, has cut its average annual capital expenditure plans by 29% to Zloty 2.5 billion ($853 million) from its previous assumption of Zloty 3.5 billion, the company said November 26 in its revised 2009-2013 strategy. PKN said its total capital spending in the period would amount to Zloty 12.6 billion. "The average annual investment will be Zloty 2.5 billion but in 2009 it will be substantially higher, more than Zloty 4 billion. In the last two years [of the period] it will fall to around Zloty 1.3 billion," PKN's CFO, Slawomir Jedrze-jczyk, told a news conference in Warsaw.