- Please find enclosed next issue of the Bulletin: Changes in the European Oil Market. Perspectives for Poland by Jarosław Ćwiek-Karpowicz and Anna Maria Dyner.

Stagnation in European oil refining favours Russian companies interested in downstream investments. Their market position also is going to be improved with the launch of the second part of the Baltic Pipeline System. Although the new pipeline will allow Russia to increase oil exports by sea and to decrease dependence on transit states in Central and Eastern Europe, Poland’s bargaining position may not be much worsened due to the increasing chances that Caspian oil will be coming through the Odessa-Brody pipeline.

For further information: Polish Institute of International Affairs