Natural Gas World
  • Natural Gas News

    WBJ: Lotos stocks soar as Warren Buffett announces deal

    old

Summary

Lotos Petrobaltic, a subsidiary of Grupa Lotos, will work alongside Warren Buffet's CalEnergy to explore gas deposits in the Baltic Sea. Grupa Lotos saw its share price soar today after the announcement.

by:

Posted in:

Press Notes

Print This Article

WBJ: Lotos stocks soar as Warren Buffett announces deal

The stock price of Polish state-owned oil refiner Grupa Lotos soared earlier this week as Warren Buffett announced that CalEnergy would explore gas deposits along with Lotos Petrobaltic in the Baltic Sea.

CalEnergy belongs to Berkshire Hathaway, Mr Buffet's company, while Lotos Petrobaltic is a subsidiary of Grupa Lotos.

“We will start drilling next year. This will allow us to make a decision about definitive plans concerning the extraction from this deposit,” said Paweł Olechnowicz, Lotos's president.

Analysts are positive about CalEnergy's involvement with Lotos.  MORE

Related Articles