Expansion into foreign markets requires a carefully designed strategy

Global expansion of Poland's top market players is a great opportunity to avoid falling into the ‘middle income trap’. Participants of the panel co-hosted by PKN ORLEN put a spotlight not only on the economic benefits, but also on the psychological aspects of PKN ORLEN's and KGHM's foreign investments. Acquisitions boost our confidence and pave the way for other Polish companies which will pursue geographical diversification as a new way to build their corporate value.

Energy security as top priority for Poland and Europe

Diversification of energy sources, efficiency improvement and creation of an energy union were the central themes of a debate on energy security which took place on the first day of the European Financial Congress. Piotr Chełmiński, member of the PKN ORLEN Management Board responsible for business development and power and heat generation, stressed the importance of operational excellence as a still underrated source of cost savings and energy efficiency.

3rd ShaleScience Conference: on the Quality of Polish Shales

The main theme of the Third International ShaleScienceConference were the methods of completing shale deposits of natural gas in the Polish geological environment. For the first time, the discussions and conclusions were based on the so-far unpublished results of exploration work.

ORLEN acquires new production assets in Canada, doubling its oil and gas reserves

Operating through its subsidiary TriOil Resources Ltd. (“TriOil”), PKN ORLEN has completed its acquisition of Canadian-based oil and gas producer, Birchill Exploration LP at total price of CAD 255.6 million, which is around PLN 707.5 million. Thanks to this acquisition ORLEN Group will increase its 2P reserves to 48 million boe.

Third ShaleScience conference - how to bring polish shale to life

On June 9th−10th, the third edition of the international ShaleScience conference will be held in Warsaw, bringing together scientists and experts from Poland and around the world to discuss shale gas recovery techniques that could prove the most effective in the Polish geological setting. The speakers will draw on the first available results of the prospecting operations carried out in 2009−2014, and will undertake a comparative analysis of Polish and American reservoir properties.

Consecutive investment of ORLEN in Canada

TriOil Resources Ltd. ("TriOil"), the Company from ORLEN Group, entered into an Agreement to acquire Birchill Exploration Limited Partnership (“Birchill”). Successful completion of the transaction will double ORLEN Group’s oil and natural reserves base in Canada.

PKN ORLEN to launch new oil and gas exploration projects in Poland

By the end of the year, PKN ORLEN plans to drill at least three exploration wells, including a new horizontal well and a hydraulic fracturing operation. Currently, the Company is continuing work on Lublin-OU1, a conventional vertical well.

PKN ORLEN’s Q1 2014 Consolidated Financial Results

RETAIL AND PETROCHEMICAL SALES RISE Despite the challenging market conditions in Q1 2014, with a low refining margin and shrinking Brent/Ural differential, PKN ORLEN's operating metrics remained close to those from Q1 2013. The ORLEN Group's retail sales came in at a record high, and the petrochemical segment made a significant contribution to PKN ORLEN's performance in the downstream. For the first time in its history, the Company produced hydrocarbons from its own deposits, at 330 thousand boe during the first quarter of the year.

Lithuanian Prime Minister visits the Maźeikiai refinery

Lithuanian Prime Minister Algirdas Butkevičius met with the ORLEN Lietuva Management Board at the Mazeikiai refinery to discuss the company’s deteriorating financial performance. During the meeting, Ireneusz Fąfara, CEO of ORLEN Lietuva, presented to Lithuanian Prime Minister concrete solutions which, if urgently implemented, could help improve the financial condition of the Mazeikiai refinery.