Orlen Strikes Deal to Recoup $100M in Missing Oil Payments

Polish oil refiner Orlen has reached a settlement to recoup $100 million out of $400 million in prepayment for Venezuelan and other oil which the company never received, a source familiar with the matter said.

Under the settlement, state-controlled Orlen will recover the $100 million in several tranches by the end of the year from Dubai-based Horizon Global. The company is still trying to recoup the remaining prepayments transferred to other companies.

Read more at Reuters.