Changes at the position of the President of PKN ORLEN Management Board

​The Supervisory Board of Polski Koncern Naftowy ORLEN S.A., following its meeting on 16 December 2015, has recalled Mr Dariusz Jacek Krawiec from PKN ORLEN Management Board and at the same time appointed Mr Wojciech Jasiński to the position of the President of PKN ORLEN Management Board.

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PKN ORLEN to begin choosing winners in its crowdsourcing competition

PKN ORLEN has closed the submission stage of its open global contest to find innovative solutions improving the energy efficiency of the refinery’s processes. Undeterred by the challenge and difficulty of the task, innovators from 20 different countries were interested by the contest. Only six most promising solutions will make it to the final stage.

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ORLEN acquires Kicking Horse Energy

Today, PKN ORLEN, through its upstream segment subsidiary ORLEN Upstream Canada Ltd, has completed the acquisition of all of the outstanding common shares of Kicking Horse Energy Inc. a Canadian oil and gas company. The Kicking Horse assets significantly increase the exploration and production portfolio of ORLEN in the Western Canada, adding approximately 4100 boe/d to current production and 30 million barrels of hydrocarbon resources (2P).

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Changes in the Supervisory Board of PKN ORLEN

On November 23rd 2015, the Minister of the Polish State Treasury, acting on behalf of the State Treasury as a shareholder, removed Mr Maciej Bałtowski from the Supervisory Board of PKN ORLEN. At the same time, Mr Remigiusz Nowakowski was appointed as Member of the Supervisory Board. The changes were made pursuant to Art. 8.2.1 of PKN ORLEN’s Articles of Association.

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ORLEN Paliwa – largest multifuels sales organisation launched

The recent merger of ORLEN Paliwa and ORLEN GAZ has resulted in the formation of one of the largest sales organisations in Poland capable of delivering a comprehensive offering of fuel products to wholesale buyers. This move continues the effort to modernise the wholesale fuel distribution channel within the ORLEN Group. The newly-established company will operate as ORLEN Paliwa.

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ORLEN Paliwa – largest multifuels sales organisation launched

The recent merger of ORLEN Paliwa and ORLEN GAZ has resulted in the formation of one of the largest sales organisations in Poland capable of delivering a comprehensive offering of fuel products to wholesale buyers. This move continues the effort to modernise the wholesale fuel distribution channel within the ORLEN Group. The newly-established company will operate as ORLEN Paliwa.

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Orlen group delivers solid performance across all segments

After the nine months of 2015, the ORLEN Group delivered a nearly PLN 3bn year-on-year improvement in LIFO-based EBITDA (before impairment losses on assets). Q3 2015 alone was closed with an operating profit (LIFO-based EBITDA) of PLN 2.1bn (before impairment losses on Czech petrochemical assets of PLN 0.1bn).

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ORLEN expands German market position

ORLEN Deutschland, a German subsidiary of PKN ORLEN, has signed a contract with Germania Petrol, an independent service station network operator, which will see it acquire 13 SUN stations in Berlin.

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ORLEN acquires new production assets in Poland

Polski Koncern Naftowy ORLEN through its 100% subsidiary, ORLEN Upstream, has entered into an agreement to acquire all outstanding shares of FX Energy, listed on the New York stock exchange NASDAQ. The agreed $1.15 (PLN 4,27) per ordinary share and $25 (PLN 92,87) per preference share, equates to approximately $83 million (ca. PLN 308 million) in equity value. The acquisition will add 8,4 mmboe of 2P reserves.

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