ORLEN Group secures EUR 2 billion credit facility

ORLEN has entered into a EUR 2 billion credit facility agreement with a syndicate of 16 banks, ensuring the Group has access to financing for its ongoing business requirements. This revolving credit facility replaces the previous agreement and will be utilised to support the Group’s day-to-day trading and operating needs.

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ORLEN and bp sign oil supply contract

ORLEN has signed a contract with bp for the supply of 6 million tonnes of crude oil from Norwegian fields in the North Sea over twelve months. This will cover about 15 per cent of the annual demand of the entire ORLEN Group for this feedstock.

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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 Ranked High among Europe’s 500 Largest Companies

In the prestigious Fortune 500 Europe ranking, ORLEN has secured the 44th spot, confirming the Company's strong position in the region. The list, prepared by the renowned US-based magazine Fortune, is based on 2022 revenue figures.

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PKN ORLEN adopts a new name

The competent court has just officially registered the renaming of Polski Koncern Naftowy ORLEN to simply ORLEN S.A. The new name, which does not specifically reference petroleum, better reflects the Company’s current business profile and future development plans. Importantly, this change does not entail any rebranding – our well-known logo and colour scheme will remain the same.

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First-quarter 2023 earnings delivered by combined ORLEN Group support execution of strategic investments in reliable and affordable energy

Retail segment’s contribution to the ORLEN Group’s first-quarter result was insignificant due to a decline in fuel margins, among other factors. Sales at service stations in Poland accounted for just around 1% of LIFO-based EBITDA. Earnings of the refining segment were also down by half compared with the prior quarter. The combined ORLEN Group generated more than PLN 110bn in revenue, with a net profit margin of only 8% (PLN 9.2bn), with the proportion close to the level posted prior to the war in Ukraine. The Group invests its profits. This year, it will spend a record amount of PLN 36bn on projects aimed to permanently improve Poland’s and the region’s energy security and independence. Zero- and low-carbon power generation projects will be continued. The scale-up of the combined ORLEN Group’s operations will also increase tax revenue streams to the state budget. In the first three months of 2023, PKN ORLEN – Poland’s largest tax payer – already paid PLN 16.5bn to the public purse, significantly contributing to the country’s economic and social development.

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ORLEN Group companies ranked among top employers

For the twelfth time running, PKN ORLEN has been awarded the Top Employer Polska title recognising the country’s best employers. The ORLEN Group companies ANWIL and ORLEN Unipetrol were also featured in the prestigious ranking of companies meeting the highest global standards in HR policy.

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ORLEN Group discloses its total carbon footprint

The ORLEN Group is extending its sustainability reporting framework to include Scope 3 emissions, which will allow it to quantify greenhouse gas emissions across the value chain. Accordingly, the ORLEN Group’s disclosures will include not only direct emissions from its production processes and those generated by suppliers, but also emissions related to the use of the Group’s products by end users. The Group has published data for 2019-2021, but in the following years reporting will also cover the newly acquired companies Grupa Lotos and PGNiG.

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PKN ORLEN completes three transactions in Poland with Aramco

PKN ORLEN has finalised three transactions with Aramco involving refining, wholesale and plane fuel businesses, following PKN ORLEN’s merger with Grupa LOTOS. The European investments support expansion of Aramco’s global downstream presence. Moreover, the joint development agreement of PKN ORLEN, Aramco and SABIC for the potential Gdansk project was signed. Aramco is to supply almost 45% of PKN ORLEN’s crude oil requirement under the agreement.

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