Locked content Orlen and PGNiG to explore gas and oil reserves in Karpaty

Orlen Upstream (a subsidiary of PKN Orlen) and PGNiG have signed an Agreement of Joint Operations (Umowa o Wspólnych Operacjach). Based on the agreement,  the companies will carry out research and exploration projects in Podkarpackie voivodeship, a company press release read. “The aim of the j...

Locked content Gdańsk and Śwonoujście gas terminals to be ready this year

Crude oil terminal in Gdańsk and the LNG (liquefied natural gas) terminal in Świnoujście will be delivered by the end of the year, said State Treasury Minister Włodzimierz Karpiński. “I am convinced, and it is my goal to see this investment [crude oil terminal in Gdańsk] and the gas terminal c...

Gasoline prices going up

Łódź brokers Reflex have seen a slight increase in the price of unleaded 95 gasoline. They are predicting the prices to rise in the next week.

Locked content Crude oil terminal in Gdańsk to operate since early 2016

The crude oil terminal of PERN “Przyjaźń” is to be launched at the beginning of 2016, the firm’s CEO Marcin Moskalewicz informed in the interview for daily Rezczpospolita. The project is 49 percent completed. “We are a month ahead of schedule … everything is indicating that t...

Locked content PGNiG to enhance oil and gas production

WSE-listed PGNiG set to increase daily oil and gas extraction to 150,000 barrels of oil equivalent (BOE) until 2022 from 90,000 BOE currently. To reach the target, the company plans acquisitions abroad, mainly in Europe, North America and South-West Asia, Zbigniew Skrzypczewicz, PGNiG vice-president...

Locked content Orlen: Oil prices at ca. $50 for the next 1-2 years

Oil prices below $50 per barrel are not possible to maintain in the long-term horizon, but in the next 1-2 years they will remain around that level, according to Adam Czyżewski, chief economist of PKN Orlen. “Technological revolution in the extraction sector, which resulted in a crude oil boom, caus...

Locked content Lotos to keep its investment plans intact – CEO

Paweł Olechnowicz, CEO of WSE-listed fuel giant Lotos, said that his company won’t change its investment plans due to the falling prices of crude oil. “We will relate to what will be going on the market in terms of our investment plan, there are many risks, but so far there are no threats as farR...

Locked content Karpiński wants hydrocarbon law draft ready in Q1

Treasury Minister Włodzimierz Karpiński would like the government to approve the draft of the special hydrocarbon law in the first quarter of 2015, he told the Polish Press Agency in an interview. “Work on the regulation is going forward. We are close to reaching an agreement with the environment mi...

Locked content Oil terminal in Gdańsk 40% complete

The crude oil marine terminal built in Gdańsk by pipeline operator PERN Przyjaźń is 40-percent complete, the Treasury Ministry said in a statement on Tuesday. The construction was launched ten months ago. Completed elements include offices and a fire protection installation. The value of PERN’s inve...

Locked content Orlen consolidates refineries

Poland’s largest oil company PKN Orlen will merge its refineries in Trzebinia and Jedlicze in southern Poland into one company called Orlen Południe, the group said in a press release on Monday. “We expect the consolidation to to contribute to the optimal use of possessed assets, especially with reg...