PKN Orlen Sells $300 Million In Crude Oil Reserves To Free Up Cash

Fox Business Friday 24th December, 2010

WARSAW -(Dow Jones)- Polish oil refiner PKN Orlen SA (PKN.WA) sold 910 million zlotys ($300 million) of mandatory crude-oil reserves to free up cash and keep the reserves off its books, the company said in a statement Thursday. The reserves were sold to a special-purpose-vehicle company owned by Royal Bank of Scotland Group PLC (

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