Lotos sees 2010 refining margins at current lows

WARSAW | Mon Nov 30, 2009 6:15am EST

WARSAW Nov 30 (Reuters) - Refining margins should stay at low levels, close to the current ones, with the Ural-Brent differential to be in the $0-1 in 2010, chief executive at Poland's No.2 refiner Lotos LTOS.WA said on Monday.

"I think that next year oil prices will stabilise at $80-90 per barrel," Pawel Olechnowicz told reporters.

"Refining margins will be at close to current levels. I hope that they will be slightly higher but still they will be very low."

Lotos CEO reiterated that fourth-quarter operating profit will not be worse than in the third quarter. (Reporting by Patryk Wasilewski, writing by Adrian Krajewski) ((adrian.krajewski@thomsonreuters.com; +48 22 653 9709; Reuters Messaging: adrian.krajewski.thomsonreuters.com@reuters.net))
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