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Orlen. A Swiss company and a loss of PLN 1.6 billion

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Minus PLN 1.6 billion – this is how Orlen calculated losses due to advance payments for oil supplies. On TVN24, the author of reports about Orlen, Łukasz Frątczak, wondered how such a huge loss could have occurred. – Who were these contracts signed with? Or they were signed with bush companies that no longer exist, so they cannot be recovered. Or with companies from countries from which recovery is impossible. And this raises very serious questions: who were we trading with? – asked the “Black and White” reporter.

– These 1 billion 600 million evaporated from this company, Orlen Traiding, founded in Switzerland. This company was supposed to deal strictly with trading activities – that is, buying oil and selling oil. It was founded in Switzerland because de facto there is, let's say, better law than in Poland for this type of activity – said Łukasz Frątczak, reporter of “Czarno na Białym” in a conversation with Artur Molęda.

When asked why such a company was registered, Frątczak pointed out that “all global players have (such companies – editor's note) registered in Switzerland.”

– This can still be explained. What cannot be explained is how our company Orlen paid some companies, I hope several, not one, one billion six hundred million zlotys in advance for crude oil – said Frątczak.

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A gigantic amount for several transporters

The “Czarno na Bialym” reporter pointed out that the largest ship transporting oil can take two million barrels on board and, taking into account the price of $70 per barrel, it amounts to $140 million – this is the cost of the entire cargo of the largest transporter in the world.

– So how many transporters did this Swiss company buy? Did they prepay for the whole thing? Because if only for 10 percent, for 15 percent, it turns out that we bought 100? Orlen lost over 100 such transporters? This is incredible. And apart from what I hear from people from Orlen, because I talked to them yesterday and today, (…) Orlen pays at the gate, i.e. when the oil arrives at the plant. Alternatively, it may release the bank guarantee once the oil reaches us, the port. On what basis did this Swiss company pay advances, people from Orlen tell me that they have no idea that it is against the procedures in force at Orlen itself – Frątczak pointed out.

Check also: Former president of Orlen Trading detained by the police. Numerous allegations

It couldn't be an advance payment

When asked whether this was not a practice of paying advance payments for oil, the reporter said absolutely not, “Orlen is too big a player to pay advance payments.”

– Owners of two gas stations can pay advance payments when they buy one tanker. At this scale, the business can make advance payments. Orlen is absolutely too big a player and players such as Orlen, MOL, Repsol, and BP do not pay advances. They are for serious players and they should also trade with serious players. Not with the bush company, which was founded by someone and the company has no history, Frątczak pointed out.

The reporter reminded that since there is an announcement about the write-off, it is assumed that this money, PLN 1.6 billion, cannot be recovered.

– At the moment, we have very little such internal information. Who was this contract signed with and on what basis? If we analyze it logically, and as I talk to people with my sources from Orlen, first of all, there should be no prepayments at all. And if there were any, then what percentage they were, that is the question. And who were these contracts signed with? Or they were signed with bush companies that no longer exist, so they cannot be recovered. Or with companies from countries from which recovery is impossible. And this raises very serious questions about who we were trading with. Logically speaking, if we bought this oil from BPI, from Circle K, from Canadians, what problem would it be to go to arbitration with them and get the money back? – Frątczak points.

Read also: Pomaska: the prosecutor's office has initiated an investigation into earnings at Orlen

I would be surprised if President Obajtek didn't know

Artur Molęda, in an interview with the “Czarno na Białym” report, noted that someone had to sign this decision. Decisions to introduce this particular sales system and to send this money.

– You know, well, it's quite simple. The management board of this Swiss company certainly signed off on it. I have another question. Who sent this kind of money to this Swiss company? Well, because someone also, since they spent one billion six hundred, someone from Poland had to transfer this money. They didn't have this money from nowhere, right? – Frątczak asked rhetorically.

When asked whether, in his opinion, President Obajtek had knowledge about all this, the reporter said that “I would be surprised if he didn't know.”

– Well, I'd be surprised if he didn't know. President Obajtek and vice-president of Róg. These two people, I'm not pointing them out by accident, I'd be amazed if they didn't know this. Especially since this Swiss company was said behind the scenes that it was the child of Vice President Rog. So I think they definitely knew what was going on there. They chose the people who would go to this company. So now there's a question. I hope that further information will be made public soon, i.e. with which companies we, as Orlen, have signed these contracts and what the advance payments were – said Frątczak.

Main photo source: TVN24

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