INVESTOR RELATIONS

Macro data

Select year

Macroeconomic data – average: 2024 unit Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
Brent crude oil price USD/bbl 80.3 83.9 85.5                  
Model refining margin (1) USD/bbl 13.9 17.3 16.8                  
Differential (2) USD/bbl -1.2 0.4 1.1                  
Model petrochemical margin (3) EUR/t - - -                  
Natural gas price TTF month-ahead PLN/MWh 130 111 115                  
Natural gas price TGEgasDA PLN/MWh 159 131 136                  
Electricity price TGeBase PLN/MWh 410 334 321                  
USD / PLN (4) PLN 4.00 4.01 3.96                  
EUR / PLN (4) PLN 4.37 4.33 4.31                  
Macroeconomic data – average: 2024 unit 1Q 2Q 3Q 4Q
Brent crude oil price USD/bbl 83.2      
Model refining margin (1)

USD/bbl

15.9      
Differential (2)

USD/bbl

0.1      
Model petrochemical margin (3) EUR/t -      
Natural gas price TTF month-ahead PLN/MWh 119      
Natural gas price TGEgasDA PLN/MWh 142      
Electricity price TGeBase PLN/MWh 355      
USD / PLN (4) PLN 3.99      
EUR / PLN (4) PLN 4.33      

(1) Model refining margin = revenues (33% Gasoline + 48% Diesel + 13% HHO) – costs (98% Brent crude oil + 2% Natural gas). Spot quotations.

(2) Differential calculated on the real share of processed crude oils. Spot quotations. 

(3) Model petrochemical margin = temporarily put on hold due to formula update.

(4) Average foreign exchange rates according to the National Bank of Poland.