Lotos move to strengthen Poland energy security

Lotos oil and gas company's EGM acceptance for key asset relocation and sale, required for a planned merger with its peer PKN Orlen, will strengthen national energy security, a Polish deputy prime minister said on Thursday. On Thursday, the shareholders agreed to the relocation of Lotos refining assets to the group's asphalt unit, as well as to the sale of its fuel trade, biofuel, asphalt and terminal units. This was required by the European Commission as a condition of its approval of Lotos's takeover by PKN Orlen, the largest Polish oil and gas company.