TriOil Resources Ltd. changes its name to ORLEN Upstream Canada Ltd.

TriOil Resources Ltd., a Canadian subsidiary of the ORLEN Group, will now operate under the name of ORLEN Upstream Canada Ltd.

Unipetrol to finalise acquisition of Česká Rafinérská shares from ENI of Italy

Unipetrol, PKN ORLEN's subsidiary, has obtained final clearance from the Czech Antitrust Office for the acquisition of a 32.445% equity interest in Česká Rafinérská from ENI of Italy. Once the...

PKN ORLEN takes over RemWil from ANWIL Group

ORLEN acquired 100% of shares in Przedsiębiorstwo Inwestycyjno-Remontowe “RemWil” from the ANWIL Group.

PKN ORLEN’s Q4 2014 consolidated financial results

For the twelve months to December 31st 2014 PKN ORLEN posted a record high LIFO-based EBITDA (operating profit before depreciation and amortisation, net of non-cash effect of inventory revaluation and impairment of non-current assets) of PLN 5.2bn, thus delivering on the targets set out in its updated strategy. The ORLEN Group made consistent progress on its development projects in the upstream and power segments. In line with its dividend policy, the Company paid out a dividend of PLN 1.44 per share in 2014. As part of diversification of the funding sources, PKN ORLEN successfully completed a PLN 1bn retail bond programme and a EUR 500m eurobond issue.

The Office for the Protection of Competition approved transaction in Ceska rafinerská

Unipetrol welcomes the decision of the Office for the Protection of Competition regarding transaction in Ceska rafinerská. The decision is not yet effective.

Siemens to build PKN ORLEN’s second CCGT unit

PKN ORLEN has signed a contract with a consortium of Siemens AG and Siemens Sp. z o.o. for the turnkey delivery of a CCGT unit in Płock and a comprehensive O&M contract for the unit’s key equipment, covering a period of approximately twelve years. The value of the turnkey EPCC contract and the O&M contract is PLN 1.3bn and PLN 0.3bn, respectively.

PKN ORLEN to build CCGT plant in Plock

The project to construct a CCGT plant in Plock has been approved today by the PKN ORLEN Supervisory Board. The new unit, with a capacity of nearly 600 MWe, is expected to come on stream at the end of 2017. The project, involving construction of the CCGT unit on a ‘turn key’ basis and the auxiliary infrastructure, is valued at PLN 1.65 bn.

Pilot TESCO Express at ORLEN petrol stations

PKN ORLEN and Tesco Poland are testing a new format of convenience stores at ORLEN petrol filling stations. First store of this kind, was opened in Warsaw on Bennett street.

PKN ORLEN’s Q3 2014 Consolidated Financial Results

SOUND LIFO-BASED EBITDA ON THE BACK OF IMPROVED MACROECONOMIC CLIMATE AND HIGHER SALES In Q3 2014, PKN ORLEN generated LIFO-based EBITDA of PLN 2.1bn, supported by favourable macroeconomic conditions: higher downstream margins and falling crude oil prices. PKN ORLEN's sales volumes grew across all segments. In the upstream, PKN ORLEN continued its oil and gas exploration activities in Poland, while in Canada its hydrocarbon production reached 652 thousand boe. In Q3 2014, PKN ORLEN reduced its debt by PLN 0.4bn (q/q), and maintained optimum financial leverage.