Orlen group delivers solid performance across all segments

After the nine months of 2015, the ORLEN Group delivered a nearly PLN 3bn year-on-year improvement in LIFO-based EBITDA (before impairment losses on assets). Q3 2015 alone was closed with an operating profit (LIFO-based EBITDA) of PLN 2.1bn (before impairment losses on Czech petrochemical assets of PLN 0.1bn).

ORLEN expands German market position

ORLEN Deutschland, a German subsidiary of PKN ORLEN, has signed a contract with Germania Petrol, an independent service station network operator, which will see it acquire 13 SUN stations in Berlin.

ORLEN acquires new production assets in Poland

Polski Koncern Naftowy ORLEN through its 100% subsidiary, ORLEN Upstream, has entered into an agreement to acquire all outstanding shares of FX Energy, listed on the New York stock exchange NASDAQ. The agreed $1.15 (PLN 4,27) per ordinary share and $25 (PLN 92,87) per preference share, equates to approximately $83 million (ca. PLN 308 million) in equity value. The acquisition will add 8,4 mmboe of 2P reserves.

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.

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.

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.

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...

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.

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.