PGNiG buys Norwegian licenses for almost PLN 1 bln

PGNiG Upstream International, a subsidiary of Poland’s natural gas giant PGNiG, has acquired stakes in four oil and gas licenses on the Norwegian Continental Shelf for NOK 1.95 billion (PLN 996 million), the company said in a statement on Monday.

Locked content Lotos counts on raising funds in December

Poland’s second-largest oil company Grupa Lotos is counting on raising funds for developing its refinery and extraction segments in December, the company’s CEO Paweł Olechnowicz was quoted as saying by the Polish Press Agency. He added that more information on the company’s petrochemical project, af...

Locked content Lotos to process oil from PGNiG

Poland’s second-biggest refiner Grupa Lotos will start processing crude oil provided by natural gas group PGNiG starting from January 2015, Lotos said in a press release on Monday. The oil will come mostly from PGNiG’s Lubiatów extraction site, which was launched earlier this year. Grupa Lotos is wo...

Locked content PGNiG and Lotos look for oil in north-western Poland

Gas giant PGNiG and Poland’s second-largest oil company Grupa Lotos have undertaken seismological surveys in north-western Poland looking for crude oil deposits. The surveys are being carried out in Kamień Pomorski and Kaleń license areas, held by PGNiG. The surveys are being conducted by Geofizyka ...

Lotos inks Polish Investments deal

Lotos Petrobaltic, a unit of Poland’s second largest oil firm Grupa Lotos has signed financing deal with Polskie Inwestycje Rozwojowe, operator of the Polish Investments program, and with lenders BGK and Bank Pekao.

Locked content Grupa Lotos with higher operating loss

Poland’s second-largest oil company Grupa Lotos recorded a consolidated net loss of PLN 122.5 million in the second quarter of 2014 compared to PLN 126.1 million a year earlier, the company said on Tuesday. Analysts polled by the Polish Press Agency had expected the result to be a PLN 77 million net...

Lotos plans PLN 1 bln share issue

Poland’s second largest oil firm Grupa Lotos has announced plans to carry out a new share issue worth some PLN 1 billion. The transaction could be completed by the end of 2014, the group’s deputy CEO Mariusz Machajewski told the Polish Press Agency.

Locked content Lotos Petrobaltic to increase light crude extraction

In the first quarter of 2014, Lotos Petrobaltic S.A. extracted 1.1 million barrels of oil. In the near future, the company will undertake drilling operations in deeper waters, at a depth of 120 meters, using a recently purchased new platform, said a press release from Lotos Group. This is Lotos’ fou...