PKN ORLEN set to strengthen its international position

PKN ORLEN has maintained a consistent focus on strengthening its position in Central and Eastern Europe, as envisaged by the ORLEN2030 strategy. As part of its geographic expansion on what are seen as the key growth markets for the entire ORLEN Group, it will build a fuel retail chain in Hungary, which will position PKN ORLEN among the region’s leading players. Topics discussed during a recent meeting between the President of the Management Board of PKN ORLEN Daniel Obajtek and the Hungarian Prime Minister Victor Orbán included the strategic aspects of energy security in this part of Europe.

ORLEN Group plans further rapid growth in offshore wind power

The ORLEN Group has submitted applications for seven new licences to develop offshore wind farms in the Baltic Sea. Once the next stage of the administrative procedure is launched, the Group will apply for the other four licences in the region. The total capacity that could be developed in the areas covered by the applications is estimated at around 7 GW. By applying for the largest possible number of licences, the ORLEN Group wants to take advantage of the economies of scale and its track recording of implementing offshore wind energy projects.

ORLEN Group invests in hydrogen

PKN ORLEN will spend PLN 7.4bn by 2030 on low- and zero-carbon hydrogen development projects based on renewable energy sources and municipal waste conversion technology. The ORLEN Group Hydrogen Strategy will be implemented in four key areas: mobility, refining and petrochemicals, research and development, and industry and energy. As a result, ten hydrogen hubs will be developed by the end of the decade, with motorists in Poland, the Czech Republic and Slovakia provided with access to a network of over 100 hydrogen refuelling stations. The projects will support the ORLEN Group’s transformation into a carbon-neutral multi-utility group.

PKN ORLEN’s record performance in 2021

In 2021, PKN ORLEN posted a net profit of PLN 10.2 billion and LIFO-based EBITDA of PLN 14.2 billion. The main contributor to the record results was the petrochemical segment, followed by power generation and refining operations. Polish retail segment accounted only for 13% of the Group’s profit. Despite a marked decline in fuel margins in the Polish market, sales revenue amounted to PLN 131.6 billion...

PKN ORLEN as Poland’s first importer of ‘green gas’

PKN ORLEN is the first company in Poland to import certified biomethane, a renewable substitute for natural gas, as part of a pilot project. This is yet another initiative under the ORLEN2030 strategy that brings the Group closer to achieving carbon neutrality and supports Poland’s energy transition.

Final milestone towards merger of PKN ORLEN with the LOTOS Group

PKN ORLEN has selected four partners through whom it will implement the remedies negotiated with the European Commission as a condition for clearance of its intended acquisition of the LOTOS Group. It has thus achieved a key milestone in building a multi-utility group with a strong financial footing, ensuring energy security for Poland, as well as stable and attractive energy prices for customers. Saudi Arabian Oil Company (Saudi Aramco), the world’s largest integrated energy and chemicals company, has become a partner for the refining and wholesale assets and for aviation fuels. Saudi Aramco’s presence in the European refining and petrochemical sector, as well as increased oil imports to Poland, will be perfectly in line with PKN ORLEN’s efforts to diversify crude oil supplies...

ORLEN to invest in production of new generation biofuel

PKN ORLEN and ORLEN Południe have signed an agreement providing for the construction of an advanced industrial unit that would produce second-generation bioethanol and describing the methods in which the project would be financed. Located at the Jedlicze refinery, the project would be the first of its kind in Poland and the second one in Europe. The unit would be capable of producing 25 thousand tonnes of bioethanol per year. The project is aligned with the ORLEN Group’s strategic objective to achieve carbon neutrality by 2050. It would also strengthen Poland’s position on the European market for new generation biofuels.

Baltic Power has held talks with potential suppliers on building supply chain for offshore wind project

Almost 600 representatives of 369 companies and institutions attended a meeting for those interested in collaboration on the Baltic Power project. Building a strong supply chain is now among the crucial steps leading up to the launch of this project, which is of strategic importance to the entire power sector. In line with the project’s schedule, the work will start in 2024 and be completed in 2026.

ORLEN steps up efforts to deploy small nuclear reactors

PKN ORLEN and Synthos Green Energy have signed an investment agreement to set up a joint venture, ORLEN Synthos Green Energy, whose key aim will be to prepare and commercialise small nuclear reactor technology, particularly GE Hitachi Nuclear Energy’s BWRX-300 reactors, in Poland. The project will offer an opportunity to accelerate decarbonisation of the ORLEN Group’s production assets while also helping to improve energy security and drive economic growth at home due to its reliance on local supply chains.