PKN ORLEN appoints new Management Board member

At a meeting on September 24th 2014, the Supervisory Board of PKN ORLEN S.A. appointed Mr Igor Ostachowicz to the PKN ORLEN Management Board. The new appointment comes at the request of the Minister of the State Treasury pursuant to Art. 9.1.3 of the Company's Articles of Association.

PKN ORLEN awarded Index of Success 2013

PKN ORLEN has been presented with the prestigious Index of Success 2013 award in the mergers and acquisitions category. This year's laureates of ‘CE Top 500 Index of Success’, a ranking prepared under the auspices of the Deloitte consultancy and the Rzeczpospolita daily, have been selected from among Central Europe's 30 key companies by a panel of independent experts. The awards have been presented at an official gala ceremony at the 24th Economic Forum in Krynica.

PKN ORLEN launches Metathesis project

PKN ORLEN has signed a contract to for a licence and front-end engineering design for its Metathesis Unit. This marks the first stage of one of the Company's key petrochemical projects, intended to increase propylene output at the Płock plant up to 550,000 tonnes per annum.

PKN ORLEN strategy for 2014–2017

PKN ORLEN has announced its strategy for 2014–2017 which reflect the present macroeconomic conditions. The strategy pillars have remained unchanged. The Company will focus on securing a strong position...

ORLEN Group consolidates its position on the Czech market

Unipetrol, PKN ORLEN's subsidiary, has accepted an offer from ENI of Italy to purchase a 32.445% interest in Česká Rafinérská. The total value of the transaction is estimated at EUR 30m.

Successful issue of eurobonds underwrited by PKN ORLEN

Based on a thorough analysis of the market and investor demand, PKN ORLEN, through its subsidiary ORLEN Capital AB, has issued EUR 500m of eurobonds which will pay interest at an annual rate of 2.5%.

Summary of PKN ORLEN retail bond issue costs

PKN ORLEN has made a final calculation of the aggregate costs incurred to carry out its retail debt securities programme. In the programme of six bond series, the Company offered investors a total of 10,000,000 bonds with a nominal value of PLN 100 per bond.

PKN ORLEN sells another pool of mandatory stocks

PKN ORLEN has sold and outsourced the maintenance of its mandatory crude oil stocks with a value exceeding PLN 2.2bn under a contract with Cranbell, the largest transaction of this type in the Company's history.

There is future in shale gas

The attractiveness of developing shale gas is obvious, and there is no shortage of investors around the world ready to take on the associated financing risk. To attract them however, a favourable legal, fiscal and social climate is needed. In this respect, Poland enjoys a good starting point, was the conclusion of the debate which took place on the last day of the 4th European Financial Congress. One of the panellists was Wiesław Prugar, President of the Management Board of ORLEN Upstream.