Metathesis project approved for execution

The annual propylene output of PKN ORLEN’s Production Plant in Płock will be increased by 100 thousand tonnes, as one of its key petrochemical projects has been approved by the Management and Supervisory Boards and is entering the execution stage. The project will increase the Płock Plant’s propylene production to 550 thousand tonnes per year.

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PKN ORLEN’s consolidated financial results for Q2 2016

PERFORMANCE UNDER PRESSURE FROM MACROECONOMIC ENVIRONMENT AND MAINTENANCE SHUTDOWNS In Q2 2016, PKN ORLEN reported LIFO-based EBITDA of PLN 2.6bn, despite a challenging macroeconomic environment and...

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PGNiG and ORLEN expand the area of Exploration and Production cooperation

PGNiG and ORLEN Upstream, a subsidiary from the ORLEN Group, signed a Letter of Intent on cooperation in exploration, development and production of hydrocarbons in new areas in Poland. The companies express the will to cooperate in the following regions: the Pomeranian Basin, the Lublin Basin, the Fore-Sudetic Monocline, the Gorzów Block, the Carpathian Foreland, and the Carpathians.

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A resolution to merge ORLEN Upstream International with ORLEN Upstream was passed

By the decision of the Shareholders’ Meeting of ORLEN Upstream a resolution was passed to accept a cross-border merger of ORLEN Upstream Sp. z o.o. (Acquiring Company), with its registered office in Warsaw, with ORLEN Upstream International B.V. (Acquired Company), with its registered office in Amsterdam, carried out in accordance with the Cross-Border Merger Plan approved on 28 April 2016.

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Success of PKN ORLEN’s Eurobond issue

PKN ORLEN has completed the EUR 750m Eurobonds issue. The Company's debt securities with an annual coupon of 2.5% have been ranked high by Fitch Ratings (BBB-) and by Moody's Investors (Baa3).

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Annual General Meeting of PKN ORLEN

Today the Annual General Meeting of PKN ORLEN approved the Directors’ Reports on the Company’s and the Group’s operations in 2015 as well as the separate and consolidated financial statements for 2015. The shareholders also endorsed the Management Board’s recommendation concerning dividend payment and appointed the Supervisory Board for a new term of office.

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Orlen consolidates its position on financial markets

Based on an in-depth analysis of the market and investor demand, PKN ORLEN has issued, through its subsidiary ORLEN Capital AB, EUR 750m of eurobonds, paying interest at an annual rate of 2.5%.

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PKN ORLEN’s consolidated financial results for Q1 2016

​After the first quarter of 2016, PKN ORLEN reported a solid LIFO-based EBITDA of PLN 1.9bn, comparable to results gained in the corresponding period last year. The result was largely driven by reduced...

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Best concepts from across the globe to support innovation at PKN ORLEN

PKN ORLEN has announced the winners of its crowdsourcing contest, the first global project of that scale launched by a Polish company. From among proposals submitted by companies, universities and research centres from all over the world, the best three solutions were selected. The winners are from Poland, India and Germany. The winners each received prizes of EUR 10,000 and were invited to discuss further cooperation with PKN ORLEN. In accordance with the objectives of the contest, the selected concepts are to improve the energy efficiency of production processes at the PKN ORLEN refinery.

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