Poland mulls oil reserve changes for refiners

WARSAW, Sept 3 Wed Sep 3, 2008 10:19am EDT

WARSAW, Sept 3 (Reuters) - Poland may free PKN Orlen PKNA.WA and Lotos LTOS.WA from keeping obligatory oil and fuel reserves in return for fees, the economy ministry said on Wednesday.

In its proposal for its energy industry strategy, the ministry said it may push for legal changes that would allow companies to pay an unspecified government entity to keep reserves instead.

"We want to create a government entity which would store the reserves, taking the burden off the companies. This would apply to both PKN Orlen and Lotos as well as smaller companies," said Rafal Miland, a deputy head of the oil and gas department at the economy ministry.

At the moment Polish oil companies are obliged to keep reserves sufficient to sustain 73 days of production. (Reporting by Patryk Wasilewski; Editing by Greg Mahlich)

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