ORLEN delivers record operational performance in 2024

In 2024, the ORLEN Group delivered record operational performance, marked by the highest levels of electricity generation from gas and renewable sources in its history, alongside its strongest natural gas production to date. The volume of low- and zero-emission energy generated during the year would have been sufficient to meet the annual demand of nearly half of all Polish households. This performance was supported by a more than 66% year-on-year increase in installed capacity across photovoltaic and wind assets, as well as the commencement of production from newly developed gas fields on the Norwegian Continental Shelf. The Energy and Gas segments together accounted for nearly 80% of the Group’s EBITDA, which totalled PLN 35.5 billion before impairment charges. The Management Board has recommended a record dividend of PLN 6 per share for the 2024 financial year.

ORLEN explores market for renewable ammonia

ORLEN is launching a market study and dialogue with potential suppliers of low-carbon and renewable ammonia which will be used to produce fertilizers while reducing emissions at the Anwil plant in Włocławek. The company is also exploring the potential of utilising renewable ammonia as a source of hydrogen for the production of synthetic aviation fuels.

ORLEN Halts Misguided Olefins III Project

The ORLEN Management Board has decided to halt the Olefins III project after determining that the actual implementation costs would have exceeded the initial estimates by sixfold. This decision is expected to save the company approximately PLN 15 billion. The funds will be redirected towards projects that sustainably enhance the competitiveness of both the company and the Polish economy. Irregularities related to the capital investment process have been reported to the prosecutor’s office. Additionally, ORLEN is considering pursuing a compensatory claim against former management board members, enabled by a recently adopted resolution of the General Meeting.