Locked content Lotos signs deal for minimum five US oil deliveries

WSE-listed, state-owned refiner Lotos signed a deal for at least five deliveries of US oil in 2018, the company said in a market filing. “This is the first non-spot agreement for US oil deliveries in Poland’s history,” Lotos CEO Marcin Jastrzębski said. “For over ten months, Lotos has been con...

Locked content Lotos buys another oil shipment from the US

WSE-listed, state-owned fuel giant Grupa Lotos has bought a second crude oil shipment from the United States as part of a plan to reduce its reliance on Russian oil supplies, the company said in a market filing. “This purchase is an element of the consistently implemented company strategy to diversi...
Image : Orlen

Number of gas stations drops by 179 in Jan-Sep

The number of gas stations in Poland fell by 179 over the first three quarters of 2017, from 6,803 existing at the end of last year to 6,624 at the end of September, according to data presented by oil industry organization POPiHN. The market leader, Orlen, had 1,758 stations, including 81 under the ...

Locked content Lotos eyes US oil

WSE-listed, state-owned gas giant Lotos is considering buying oil in the US, although doesn’t expect first deliveries this year. “We are working intensively on opening up the US routes when it comes to oil,” company’s deputy CEO Jarosław Kawula said. He added that currently, based on information fro...

Locked content Lotos with PLN 1 bln capex in H2 – CFO

WSE-listed fuel group Lotos plans spend over PLN 1 bln on investments in H2. “The capex for 2017 is some PLN 2 billion which means that over PLN 1 billion may be spent in H2,” company’s CFO Mariusz Machajewski said. This spending should not affect the company’s debt level, barring any major mo...

Locked content Lotos Q2 profit drops

WSE-listed fuel giant Lotos posted a PLN 157.5 million Q2 net profit, down from PLN 225.8 million a year ago. Operating profit decreased to PLN 172.9 million from PLN 550.6 million a year earlier. EBITDA dropped to PLN 383.6 million from PLN 810.3 million a year ago. Group revenues increased to PLN ...

Locked content Lotos with PLN 410.9 mln attributable net profit in Q1

WSE-listed fuel giant Lotos reported a Q1 attributable net profit of PLN 410.9 million, up by 297 percent y/y. In q/q terms, the profit grew by 32 percent. The margins were down due to maintenance shutdowns, but results were boosted by rising fuel prices. Sales revenues stood at PLN 5.44 billion, a ...

Locked content Lotos Q4 profit on the rise

WSE-listed fuel producer Lotos had PLN 303 million net profit in Q4, compared to negative PLN 391 million recorded last year. Company’s EBIT stood at PLN 734 million (70 percent growth y/y), while revenues from sales amounted to PLN 6.36 billion, representing a 12.5 percent y/y increase. The company...

Locked content Lotos to close its Gdańsk refinery for 6 weeks

WSE-listed fuel group Lotos will hold its biggest overhaul ever of its Gdańsk refinery between March 3 and April 15, which will allow the firm to forgo major stoppages for the next 4 to 5 years, Lotos said in a press statement. “The upcoming overhaul will be the biggest such venture in firm’s ...