“The establishment of LOTOS Petrobaltic in 1990 after the liquidation of the Joint Petroleum Exploration Organization (JPEO) was not certain and obvious. During the great socio-political changes in Europe, the collapse of the Soviet Union and the merger of the German states, the governments of the shareholder states of JPEO decided to close it down. The assets of JPEO were to be divided between the founding countries of the organization. It was then that the Polish staff of the international company began efforts to take over the property. Our company was born thanks to the stubbornness, determination and consistent actions of the Polish staff of JPEO.”
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