ORLEN starts construction work on its CCGT project in Wloclawek

PKN ORLEN has officially launched construction work on what will be the largest state-of-the-art CCGT plant in Poland. The new 470 MWe unit will generate heat and electricity simultaneously, using the co-generation technology. This highly efficient and environment-friendly generation method will be used e.g. by Anwil and PKN ORLEN. The foundation stone ceremony for the project was held today. The new CCGT plant is expected to be commissioned by the end of 2015.

ORLEN completes drilling work on its sixth exploration well

This time ORLEN has focused its exploration efforts related to unconventional gas plays in the village of Nowy Stręczyn, located in the Lublin region (commune of Cyców, county of Łęczna). The drilling work took 54 days, and the depth reached was 3.5km.

PKN ORLEN notes prospectus submitted to PFSA

PKN ORLEN has submitted a prospectus relating to its new Notes Programme to the Polish Financial Supervision Authority (PFSA). Under the prospectus, one or more series of notes for a total amount of up to PLN 1bn are to be issued over the period of 12 months and offered publicly to retail investors.

New CEO appointed at UNIPETROL

The Supervisory Board of Unipetrol, an ORLEN Group company, has made changes to the Unipetrol Management Board today. Marek Świtajewski, previously in the position of Vice-President of the Management Board, was appointed President of the Board. The outgoing President and a member of the Management Board of PKN ORLEN, Piotr Chełmiński was appointed member of the Unipetrol Management Board.

PKN ORLEN will be able to issue and offer to the public notes totalling up to PLN 1bn.

PKN ORLEN has made a decision on a possible launch of a new Note Programme. Under the Programme, the Company would be able to issue one or more series of notes totalling up to PLN 1bn within 12 months. The notes would be issued to the public and offered to a broad group of investors, including retail investors.

PKN ORLEN prepares for sale of another portion of oil stocks

Today PKN ORLEN has repurchased a pool of mandatory reserves sold a year ago, and is preparing a new deal, which stands a chance of being finalised by the end of the first half of 2013.

PKN ORLEN at CERAWeek in Houston

“We need to ask ourselves how to run a business amid a profound technological breakthrough. What does it hold for us? Should we stay where we are, in the downstream segment, or should we go upstream? Are the new technologies a blessing or a curse for oil refining companies? These are the key questions that companies which derive most of their revenue from downstream operations, including PKN ORLEN, have to consider.” These were the questions posed by Jacek Krawiec, President of the PKN ORLEN Management Board, during a discussion as part of a plenary panel at the CERAWeek conference. Mr Krawiec was the only representative of the Polish fuel sector to participate in the Houston gathering, which was devoted to the potential contribution of new technologies to easing the global crisis.

PKN ORLEN diversifies its natural gas supplies

PKN ORLEN has secured access to natural gas supplies from alternative sources. The company has also been registered as a participant in gas trading on the liberalised European market through the Leipzig exchange.

PKN ORLEN begins drilling of new well in the Lublin region

Following previous announcements concerning intensification of unconventional gas exploration efforts, PKN ORLEN has begun drilling a new well in search of gas in the Lublin region. The new well is located in Nowy Stręczyn in the Cyców commune, in the county of Łęczna.