New OPZ concession for Unimot

Date of publication: 05.09.16

President of the Polish Energy Regulatory Office has again granted UNIMOT S.A. a concession for foreign liquid fuels trade (OPZ). The new concession will be valid for next two years.

The OPZ concession makes it possible for UNIMOT S.A. to conduct activity in the scope of trading diesel oil, bio-fuels and liquefied gas with foreign businesses. The condition necessary to obtain the concession was, among others, providing by the Company so called guarantee security, that is proprietary security in the amount of PLN 10 million. The guarantee security is lodged for purposes such as: fees resulting from the possessed concession, maintenance fees, potential penalties resulting from not achieving the National Index Target (NIT) or introducing into distribution fuels that do not comply with the quality standards. The security is also used for tax liabilities (VAT, excise) and interests for the delay in these payments.

– The Company has complied with the formal regulations connected with obtaining this type of concession for many years, that is why we maintain continuity of conducting operations in the scope of fuels trade with foreign businesses. The two-year period of the concession validity results from the fact that the Company chooses the most optimum model of proprietary security financing – explains Mr Robert Brzozowski, the President of UNIMOT S.A.

The current concession has been granted until 31 January 2019.