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.

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.

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.

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 wins back investment-grade standing

Today, Fitch Ratings has raised PKN ORLEN's credit rating to BBB-, with a 'stable' outlook, which means that after four years the Company has won back its investment-grade standing. This long-awaited change is a result of a consistent deleveraging effort and a policy aimed to maintain all financial ratios at safe levels, which has significantly improved the Company's credit standing, despite the persistently challenging climate for the industry across Europe. Fitch Ratings has also upgraded the Company's national rating to A- (pol), with a 'stable' outlook.

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.

PKN ORLEN's portfolio of exploration licences increased to ten

The Ministry of the Environment has issued its approval regarding the assignment of two licences held by ExxonMobil Exploration and Production Poland (ExxonMobil), to ORLEN Upstream. The Company is preparing to launch exploration activities in the new licence areas.