PKN ORLEN about to close the largest transaction on Poland’s energy market

​Within no more than four months PKN ORLEN fulfilled all conditions precedent to the acquisition of the ENERGA Group, including reaching the threshold of 66% of shares covered by the tender offer. The price was eventually set at PLN 8.35 per share. The share acquisition process by PKN ORLEN has begun today. It is an important component of PKN ORLEN’s strategy to create a strong multi-utility group which will strengthen the competitive and financial position of both companies, improve Poland’s energy security, and in particular stimulate the Polish economy.

PKN ORLEN has entered the decisive stage of negotiations with the EC over its proposed acquisition of the LOTOS Group

​The European Commission has enabled PKN ORLEN to review the results of the analysis carried out in second stage of the proceedings of the potential acquisition of the LOTOS Group. In line with the practice for this phase of procedure, the ‘Statement of Objections’ has been applied. A written Statement of Objections issued by European Comission will help PKN ORLEN align its proposed remedial measures with the Commission’s guidelines and formally submit them in the near future.

Launch of the first ORLEN-branded service station in Germany

​PKN ORLEN has launched its first ORLEN-branded service station near Berlin. It is another important step towards a full international rebranding of the network and strengthening the company’s position in Europe. Almost 600 service stations under the ORLEN-star brand already operate in Germany. The new station operates as a stop.cafe and O!Shop, offering a wide range of products to customers.

PKN ORLEN closer to take over the ENERGA Group

​The European Commission has given its unconditional approval for PKN ORLEN’s plan to take over the ENERGA Group. This is another step, following the tender offer, on PKN ORLEN’s path towards further diversification of its business and strengthening of its position on the competitive European market. The transaction aims to benefit both companies, the regions where they operate and their shareholders, as well as to make Poland’s economy more resilient to new challenges.

Mažeikiai regains railway connection with Latvia

​A train heading for Latvia left the Mažeikiai refinery today. ORLEN Lietuva will again export its products via Renge after a 12-year break, as Lithuanian Railways fulfilled its commitment in December last year to rebuilt a 19 kilometre long railway section, thus restoring the shortest rail route from the Mažeikiai refinery to Latvia, dismantled in 2008.

ORLEN Group company partners with Robert Kubica and DTM team

​ORLEN Team ART is the name of a new team that will compete in this year’s DTM series. The main sponsor of the new stable will be ORLEN Deutschland, with ORLEN Team driver Robert Kubica taking the wheel of the BMW M4 DTM. Besides Formula 1, DTM is another element of the ORLEN brand promotion on global markets.

PKN ORLEN to optimise oil refining

​As previously announced, PKN ORLEN is expanding its production assets to enable more efficient use of feedstocks. To that end, a new visbreaking unit, of key importance to the Company’s refinery in Płock, will be built to increase the yield of light products: gasoline and diesel oil. The project worth approximately PLN 1bn is planned to start commercial operation by the end of 2022. It is expected to add up to PLN 415m to PKN ORLEN’s annual EBITDA. Once all investment projects currently underway at the refinery are completed after 2022, annual EBITDA is estimated to grow by over PLN 600m in total.

PKN ORLEN’s consolidated financial results for Q4 2019

PKN ORLEN POSTS SOLID FY 2019 RESULTS WITH RECORD EARNINGS DELIVERED BY RETAIL AND POWER. PKN ORLEN posted LIFO-based EBITDA of PLN 9.4bn and net profit of PLN 4.5bn for 2019. The Company’s net...

ORLEN becomes Title Sponsor of Alfa Romeo Racing

PKN ORLEN became Title Sponsor of Alfa Romeo Racing starting from the 2020 Formula 1 season. As part of cooperation, Robert Kubica will join the team. ORLEN logo will appear as a main element in...