Preliminary tender offer for Unipetrol

Polski Koncern Naftowy ORLEN S.A., Poland's leading refiner, producer and distributor of oils and petroleum fuels, today submitted a preliminary tender offer for acquisition of 62.99% in the share capital of Unipetrol, a.s., the leading Czech oil and petrochemicals group and the purchase of the receivables of Česká konsolidační agentura towards certain entities directly or indirectly owned by Unipetrol, a.s., as well as for the purchase of part of the share capital of Spolana, a.s., currently being held by ČKA (collectively the "ČKA Assets"). Shares and Assets of ČKA are being offered for sale by the National Property Fund of the Czech Republic in a competitive tender.

More

PKN ORLEN Improves Performance - further effects of the restructuring

The third quarter of 2003 proves that PKN ORLEN is on the path of quick and steady value growth. The restructuring programmes implemented at ORLEN are bringing about the desired effects, which confirms that the development concept proposed by the Executive Board has been correct.

More

PKN ORLEN begins construction of the PTA Plant

Today in Wloclawek (Poland) the Presidents of PKN ORLEN, Polimex-Mostostal and the City of Wloclawek together with representatives of Mitsubishi Chemical officially commenced the construction of a purified terephthalic acid plant (PTA). The installation, with an annual production capacity of 600,000 tonnes, will be operating on the premises of PKN ORLEN adjacent to ANWIL Wloclawek.

More

Annex to the Agreement on the post-war Iraq rebuilding

At PKN ORLEN's Warsaw offices, an annex was signed to the agreement on cooperation concerning post-war rebuilding of Iraq, concluded on April 25th 2003 between Mr Zbigniew Wróbel, President of PKN ORLEN's Executive Board, and Mr Konrad Jaskoła, President of the Executive Board of POLIMEX-CEKOP.

More

Agreement on the post-war Iraq rebuilding

Today, at PKN ORLEN's Warsaw offices, Mr Zbigniew Wróbel, President of PKN ORLEN's Executive Board, and Mr Konrad Jaskóła, President of the Executive Board of POLIMEX-CEKOP, signed an agreement on cooperation concerning post-war rebuilding of Iraq.

More

Agreement on the post-war Iraq rebuilding

Today, at PKN ORLEN's Warsaw offices, Mr Zbigniew Wróbel, President of PKN ORLEN's Executive Board, and Mr Konrad Jaskóła, President of the Executive Board of POLIMEX-CEKOP, signed an agreement on cooperation concerning post-war rebuilding of Iraq.

More

EGM of PKN ORLEN

The Extraordinary General Meeting of PKN ORLEN SA approved the amendments to the Company's Articles of Association, appointed Supervisory Board members, approved the disposal and lease of assets of the Bitumen Plant and the motion for the sale of two Petroleum Product Plants in Brzeg Dolny and Gliwice.

More

PKN ORLEN rating maintained

Fitch Ratings maintained its rating for PKN ORLEN at the investment level (BBB and F3). This means that the Company's credit risk is low and stable. At the same time, Fitch changed the outlook for the Company. This, however, is related to the ambitious projects undertaken by PKN ORLEN, such as the acquisition of a network of service stations in northern Germany, launch of a joint venture with Basell or the planned acquisition of shares in Rafineria Gdańska.

More

Time of success

For PKN Orlen, 2003 was a time of strenuous work, bold undertakings and investment projects which brought the expected results. The most evident manifestation of the effects of these actions is the fact that the Company is a source of material revenue to the State Budget and one of the most profitable companies on the Warsaw Stock Exchange, which is attested to by the growth of PKN Orlen's share price by nearly 57% over the whole year.

More