ORLEN starts a tender procedure to select the contractor for its hydrogen hub project

​PKN ORLEN has commenced a process to select the contractor to build a hydrogen hub in Włocławek, designed to ultimately produce up to 600 kg of purified hydrogen per hour. The project, comprising...

PKN ORLEN to be emission-neutral by 2050

​PKN ORLEN is the first oil company in Central Europe to declare aspiration to achieve emission neutrality by 2050. In order to reach this goal, by 2030 the company will reduce CO2 emissions from its...

Another major milestone towards acquisition of Grupa LOTOS by PKN ORLEN

​PKN ORLEN has signed a memorandum of understanding with the Polish State Treasury and Grupa LOTOS concerning its acquisition of Grupa LOTOS shares and thus control of the Gdańsk-based group. It represents another stepping stone to establishing a strong and integrated organisation capable of successfully competing on international markets and significantly strengthening Poland’s security in fuels and energy.

PKN ORLEN moving forward with its strategic growth projects, while delivering solid performance and maintaining sound liquidity

For Q2 2020, PKN ORLEN posted LIFO-based EBITDA of PLN 5.7bn, with net profit of PLN 4bn. A gain on the bargain purchase of the Energa Group was a major contributor, at PLN 3.7bn. Strong performance...

Environmental surveys completed by PKN ORLEN for its offshore wind farm project in Baltic Sea

​After 17 months of extensive surveys by a team of over 50 experts, PKN ORLEN has finally submitted an environmental report for its offshore wind farm project to be developed in the Baltic Sea. Having...

Further steps taken by PKN ORLEN to acquire PGNiG Group

​PKN ORLEN has begun work on a merger control submission to the European Commission regarding its intended acquisition of the PGNiG Group, Poland’s incumbent gas supplier. Concurrently, a due diligence process will be carried out at the target, pursuant to a confidentiality agreement signed between both parties. The acquisition would mark an important stepping stone in PKN ORLEN’s efforts to build a single multi-utility group with a strong position in Europe and global coverage.

Moody’s raises outlook on PKN ORLEN’s credit rating to positive

PKN ORLEN is consistently strengthening its financial position and credibility for investors. This has been affirmed by the rating agency Moody’s, which has upgraded the Group’s rating outlook from negative to positive and upheld its credit rating at Baa2.

PKN ORLEN has European Commission’s clearance for acquisition of Grupa LOTOS

​The European Commission decided that PKN ORLEN’s application for the acquisition of PGNiG would be considered by the President of the Office of Competition and Consumer Protection (UOKiK). The...

Process to acquire PGNiG Group launched by PKN ORLEN

​PKN ORLEN and the State Treasury, represented by the Minister of State Assets, have signed a Letter of Intent concerning acquisition by PKN ORLEN of the PGNiG Group. Following the buy-up of the ENERGA...