ORLEN Group consolidated results for Q1 2024

In the three months ended 31 March 2024, the ORLEN Group generated LIFO-based EBITDA* of PLN 8.4 billion and net profit of PLN 2.8 billion. The stable financial results were delivered with a PLN 1 billion q/q reduction in net debt. Over the period, the Group invested nearly PLN 6.4 billion across all its business lines. The retail segment saw a 20% y/y increase in sales reflecting growing demand in Poland and the Group’s entry into a new market with the acquisition of over 260 fuel stations in Austria. The energy segment’s performance remained stable, its electricity output from renewable and low-carbon sources upped to nearly 70%.

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ORLEN invests in ultra-fast charging stations

The ORLEN VC fund has invested in EUROLOOP, a producer of ultra-fast charging stations for electric vehicles (EVs). The innovative chargers from this Polish startup are already available to motorists in seven European countries, standing out as some of the market's fastest charging solutions. These state-of-the-art stations can deliver up to 720 kW of direct current power.

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ORLEN Group reduces CO2 emissions at Sleipner Area on Norwegian Continental Shelf

Yet another production installation used by ORLEN Group on the Norwegian Continental Shelf has been connected to clean energy generated onshore. The electrification of the Sleipner field will prevent 160,000 tonnes of carbon dioxide emissions per year. About two-thirds of the gas production of PGNiG Upstream Norway in 2024 will be carried out using facilities powered from shore.

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ORLEN’s hydrogen mobility project with unprecedented EU support

The ‘Clean Cities – Hydrogen mobility in Poland’ project implemented by ORLEN has been backed by the largest grant ever awarded by the European Union for hydrogen innovation, totalling EUR 62m of non-repayable funding. The EU funds will support an ambitious agenda to erect 16 hydrogen refuelling stations available to the public across various regions of Poland and to establish a green renewable hydrogen production facility, leveraging an advanced water electrolysis process powered by renewable energy.

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Changes on ORLEN Management Board

On 10 April 2024, the Supervisory Board of ORLEN S.A. appointed Mr Ireneusz Fąfara to serve as President of the Management Board of ORLEN S.A., effective 11 April 2024.

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ORLEN Group to deliver another 1 bcm of self-produced gas via Baltic Pipe

The ORLEN Group has increased the volume of natural gas transported to Poland from its own production assets in Norway by more than 30%, equating to an additional 1 bcm annually. Gas produced from Norwegian fields by PGNiG Upstream Norway already accounts for about a half of the entire Baltic Pipe capacity booked by ORLEN.

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Poland’s first offshore wind farm service company is established

Energa Wytwarzanie, an ORLEN Group company, and Northland Power, have established Baltic Offshore Service Solution, the first consortium in Poland offering a comprehensive suite of offshore wind farm management services.

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ORLEN secures accreditation for automotive grade hydrogen testing

ORLEN Laboratorium’s Refining Products Testing Unit in Trzebinia is the first lab in Poland and the third one worldwide to have achieved accreditation for advanced automotive grade hydrogen testing methods. The positive assessment from the Polish Accreditation Centre holds key importance for the hydrogen producer – ORLEN Południe. In 2024, ORLEN Laboratorium aims to secure accreditation for its second lab in Włocławek, soon to house a Hydrogen Hub.

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ORLEN Group confirms gas and condensate reserves in Adriana discovery

PGNiG Upstream Norway and its license partners successfully completed drilling in the PL211 CS licence in the Norwegian Sea. The appraisal well confirmed that the Adriana field contains natural gas and condensate reserves of 28-43 million barrels of recoverable oil equivalent.

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