Baltic Power has held talks with potential suppliers on building supply chain for offshore wind project

Almost 600 representatives of 369 companies and institutions attended a meeting for those interested in collaboration on the Baltic Power project. Building a strong supply chain is now among the crucial steps leading up to the launch of this project, which is of strategic importance to the entire power sector. In line with the project’s schedule, the work will start in 2024 and be completed in 2026.

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European Commission grants PKN ORLEN more time to implement remedies

PKN ORLEN is finalising agreements with its partners in the implementation of remedies, who will guarantee further business development of the companies subject to the proceedings. In parallel, measures are being taken to prepare both companies for the merger process...

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PKN ORLEN is patron of Chopin concert at Expo 2020 Dubai

World Expo 2020 offers a unique opportunity to promote Poland globally. The event brings together representatives of over 190 countries and organisations and close to 2,500 Polish companies. PKN ORLEN is Strategic Partner of the Polish Pavilion and patron of the Chopin at Expo 2020 project.

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The best Annual Report 2010 for PKN ORLEN

The on-line version of PKN ORLEN’s annual report was awarded the main prize by the Polish Institute of Accountancy and Taxes. On top of this, the Company was awarded for the model appliance of accounting standards across the capital group.

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PKN ORLEN’s investment in deep crude conversion in Mažeikiai will enhance the refinery’s profitability

PKN ORLEN is investing to expand its refinery in Mažeikiai. By the end of this year construction will start on a project to build deep crude conversion units enabling production of larger volumes of high-margin products. According to the agreement signed between PKN ORLEN and ORLEN Lietuva on the financing of the project, the Company is to invest EUR 641m. This will be the largest capex project carried out by the ORLEN Group in Lithuania in its operating history. The project will enhance the profitability of the refinery, contributing to strengthening energy security of the region. The project is slated for completion by the end of 2024, and it will add as much as ca. EUR 68m to annual EBITDA.

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PKN ORLEN appoints financial advisor for the Baltic Power

​A consortium comprising Pekao Investment Banking and Green Giraffe has been mandated as financial advisor for the offshore wind farm project Baltic Power. The two companies will be responsible for raising funding for the project, which is due to start in 2023, with commercial operation planned in 2026.

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PKN ORLEN starts the largest petrochemical project in Europe

​PKN ORLEN is investing in the expansion of the Olefins Complex at the Płock Production Plant. It is the key project in the strategic Petrochemical Development Programme and the largest petrochemical investment project in Europe in the last 20 years.

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PKN ORLEN moves a step closer to merger with PGNiG and Grupa LOTOS

​The Ministry of State Assets, PKN ORLEN, PGNiG and Grupa LOTOS have confirmed the structure of the intended merger. They have signed a four-party agreement providing for a merger formula that guarantees stable financial condition of the new strong company and takes into account the needs of all shareholders, including minority interests. The leading role of PKN ORLEN in the transaction has also been guaranteed.

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President of UOKiK to consider PKN ORLEN’s application for the acquisition of PGNiG

​The European Commission decided that PKN ORLEN’s application for the acquisition of PGNiG would be considered by the President of the Office of Competition and Consumer Protection (UOKiK). The decision follows from the fact that the planned concentration will not have any significant impact on competition outside Poland, and the President of UOKiK was selected as the most competent authority to assess its impact on the Polish market.

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