No. 41/2019  |  28-11-2019

Disclosure of delayed inside information – PKN ORLEN Management Board consent for realization of project of building Visbreaking Unit at production plant in Plock

PKN ORLEN S.A. (“Company”, “Issuer”) discloses the following inside information, publication of which was delayed on 22 October 2019:

“PKN ORLEN (“Company”) informs that on 22 October 2019 the Company’s Management Board gave consent for realization of the EPC phase of investment project called: “Visbreaking Installation at  production plant in Plock”. The project's implementation aims to improve crude oil production efficiency by increasing the yield of high-margin products as a result of in-depth conversion of vacuum residue from the Crude Distillation Unit. The cost of investment will amount to ca. PLN 1 bn. 
Realization of the project requires the consent of the Company’s Supervisory Board, which the Management Board applied for today.

On the base of Art. 17 item 1 and 4 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.”​