ORLEN acquires another upstream company in Canada

PKN ORLEN, through its subsidiary ORLEN Upstream Canada, entered into an agreement whereby the process of acquisition of 100% of shares in Kicking Horse Energy commenced. The equity purchase price is approximately CAD 293 million (ca. PLN 842 million), which represents CAD 4.75 (PLN 13,65) per share. The transaction will be finalised upon the fulfilment of all the terms and conditions of the agreement. The planned date for the transaction closing in 4Q, 2015.

More

PKN ORLEN launches a crowdsourcing project to promote technology innovation

​​PKN ORLEN has launched Poland’s first open contest to find innovative solutions improving the energy efficiency of production processes. In line with its new approach to R&D, the Company chose a crowdsourcing model. Contestants from all over the world, including research institutes, companies, independent researchers, consultants and students, are invited to submit their proposed solutions.

More

ORLEN acquires DEA’s concessions in Poland

ORLEN Upstream continues expansion of its exploration and production portfolio. As a result of the signed agreements, ORLEN acquires 100% of shares in two concessions in the regions of Lesser Poland and Subcarpathia from DEA Deutsche Erdoel AG.

More

The biggest petrochemical investment of Orlen Group in Czech

​Unipetrol, a subsidiary of PKN ORLEN, and Italy’s Technip today signed a contract for the construction of a new polyethylene unit (PE3) at the Litvinov plant. The ORLEN Group’s largest investment on...

More

ORLEN to build Poland’s largest gas-fired CHP plant

PKN ORLEN has launched the construction of a CCGT unit at the Płock production plant. The new heat and power generation unit, with a capacity close to 600 MWe, is to be brought on stream in late 2017 or early 2018. The project’s budget is planned at PLN 1.65bn. The foundation act was signed by Piotr Chełmiński, member of the PKN ORLEN Management Board responsible for Business Development and Power and Heat Generation, and Peter Baudrexl, President of the Management Board of Siemens Sp. z o.o.

More

ORLEN among the best managed companies in CEE 2015

In the 11th edition of Eurmoney’s Best managed companies in CEE 2015 survey, whose results have just been released, PKN ORLEN was once again recognised as the best managed company in Poland. Independent analysts from leading financial institutions across the globe rewarded the company for its ambitious development plans and strong management competence.

More

New reporting standards at PKN ORLEN

Today, PKN ORLEN has published its first interactive, integrated on-line annual report, which combines financial reporting and CSR reporting, and takes into account the guidelines of the International Integrated Reporting Council. It also reflects the latest directions in the EU legislation on disclosure of non-financial and diversity information. The report’s new formula is a natural step in adapting this form of communication to market trends and stakeholder expectations.

More

Consolidated financial results of PKN ORLEN 2q2015

Solid performance by pkn orlen on supportive macroeconomic environment, higher output and sales. In Q2 2015, the ORLEN Group's LIFO-based EBITDA before impairment losses on property, plant and equipment came in at PLN 2.9bn. The strong result was driven by a supportive macroeconomic environment, with a growing downstream margin and falling crude oil prices. The Group also reported higher sales across all segments. A solid result was posted by the Retail segment, despite a year-on-year decline in fuel margins in Poland, the Czech Republic and Lithuania. In Q2 2015, PKN ORLEN managed to reduce its debt and financial leverage, keeping its debt ratios at optimum levels. On July 8th 2015, as previously announced, the dividend of PLN 1.65 per share was paid to the shareholders.

More

PKN ORLEN and PGNiG are launching a joint E&P project in the Podkarpacie region

ORLEN Upstream has entered into a Joint Operating Agreement with Polskie Górnictwo Naftowe i Gazownictwo S.A. company (PGNiG). The companies aim to jointly conduct analytic and research works in eight concession blocks in Podkarpackie Voivodeship.

More