Unimot has updated the OPZ concession

Date of publication: 21.03.17

By the Decision of the President of URE (Energy Regulatory Office), the company UNIMOT S.A. has updated the possessed concession for trading liquid fuels abroad, after the Law on Energy has been amended.

The update of the concession for UNIMOT S.A. to trade liquid fuels broadens the product scope with petrols and light fuel oils, which together with other comprised by the concession fuels, i.e. Diesel oil and fuel oil, bio-fuels and liquefied gas will allow to use a broader fuel product palette and strengthen the trade relationships with current foreign entities, as well as acquire new, foreign business partners.

Thanks to the update and widening the product scope the Company can continue trading liquid fuels in accordance with the valid law regulations.

The condition to obtain the concession, according to the amended law of 22 July 2016 on changing the Energy Law and some other laws, was to comply with requirements connected with coming into effect so called Energy and Fuel Package (in this the regulation on detailed list of products subject to granting licences), and then providing the President of URE with up-to-date information in this scope until 16 January 2017.

The updated OPZ concession allows the Company to make use of full possibilities provided by the international fuel market – claims Mr Robert Brzozowski, the President of UNIMOT S.A. – Complying with new requirements concerning trading liquid fuels abroad in such short time was a real challenge. Widening the scope of the concession will allow us to continue our expansion.

The updated concession of UNIMOT is in force until 31 January 2019.