Unipetrol increases its interest in Česká Rafinérská

Unipetrol increases its interest in Česká RafinérskáOn November 7th 2013, UNIPETROL, a.s. (“Unipetrol”), an ORLEN Group company, signed an agreement with Shell Overseas Investments B.V. (“Shell”) to acquire shares in ČESKÁ RAFINÉRSKÁ, a.s. (“Česká Rafinérská”), representing 16.335% of its share capital. The transaction was valued at USD 27,2 m.

PKN ORLEN launches third bond series

PKN ORLEN has launched its third retail bond issue this year, valued at PLN 200m. Based on market research, investor activity on the Catalyst market, and the huge interest generated by the first two series, the decision was made to offer four-year Series C bonds for subscription and sale. PKN ORLEN is expecting up to PLN 1 bn in proceeds from the entire bond issue programme.

Moody's Investors raises PKN ORLEN's credit rating

Moody's Investors rating agency today raised PKN ORLEN's credit rating from Ba1 to Baa3, with a stable outlook. The rating agency recognised the Company's perseverance in maintaining stable financial results and its rational approach to capital expenditure planning. Moody’s is the second rating agency, after Fitch Ratings, to have upgraded PKN ORLEN's rating to the investment grade this year. Thus, after more than four years, the Company has regained its investment grade rating from both of the world's leading rating agencies.

ORLEN Lietuva and Klaipėdos Nafta’s signed letter of intent on product pipeline

The oil refining company ORLEN Lietuva and oil product terminal Klaipėdos Nafta have signed letter of intent regarding potential cooperation in evaluating ORLEN Lietuva’s future product pipeline to the seaside.

PKN ORLEN’s Q3 2013 Consolidated Financial Results

Despite macroeconomic headwinds and challenging market conditions, PKN ORLEN has posted PLN 0.8bn in LIFO-based EBITDA for Q3 2013. The petrochemical and retail segments were the largest contributors, whereas the refining business remained under heavy macroeconomic pressures. The retail segment reported stronger sales by volume across all home markets.

Europe needs deregulation

In 2011, European listed companies had EUR 750bn of liquid cash. How can this huge capital of the Old Continent's companies be put to use to foster economic growth and improve the competitiveness of European businesses? Regaining leadership, a vision for long-term development, deregulation, and exploitation of the existing potential, including, first and foremost, social potential, will enable Europe to re-establish its strong position on the global scene – this was a consensus among the participants of the PKN ORLEN's panel discussion Economic Architecture of the New Europe. What can be done to make institutions, governance and regulations support growth?, held today as part of the European Forum for New Ideas in Sopot.

PKN ORLEN to acquire an upstream company in Canada

PKN ORLEN S.A. (“PKN ORLEN”, the “Company”), through its subsidiary ORLEN Upstream Sp. z o.o. (“ORLEN Upstream”) has entered into an arrangement agreement with TriOil Resources Ltd. (“TriOil”), a Canadian company listed on the TSX Venture Exchange, which will initiate the acquisition of TriOil. PKN ORLEN has agreed with TriOil to acquire 100% of the shares of the company for CAD 2.85 per share, representing total cash consideration of approximately CAD 183.7m. The offer has been accepted by the Board of Directors of TriOil, and will be considered by the shareholders of TriOil at the meeting of shareholders in November 2013.

ORLEN – Poland, Czech Republic, Germany

Although culturally different and at times misled by stereotype, we still cherish the same core values and have a clear-headed approach to business together. So how far have our perceptions of our neighbours, projected into the economic and social sphere, evolved with the dynamic growth of our countries throughout their transformation? The ‘Poland-Czech Republic-Germany – Mutual Relations, Cooperation and Growth’ report, compiled by the Institute of Public Affairs for PKN ORLEN, demonstrates that mutual relations between the three countries could, in fact, produce very tangible benefits for the entire European Union.

PETROLOT and Shell signed agreements on aviation fuel storage and aircraft refueling at the Warsaw Chopin Airport

PETROLOT, a company belonging to ORLEN Group, and Shell Polska signed agreements that will allow Shell to enter the market of aviation fuel supply at the biggest airport in Poland – Warsaw Chopin Airport. These agreements will enable Shell to benefit from full offer of PETROLOT services at Warsaw Chopin Airport, regarding the storage of aviation fuel and aircraft refueling services.