Locked content Lotos with another US oil delivery deal

WSE-listed, state-owned fuel giant Lotos signed a deal for at least seven deliveries of US crude oil, the company announced. The oil will be delivered to the Naftoport Oil Terminal in Gdańsk. The deal comes as part of Lotos’s pursuit of a strategic goal to diversify oil supplies, the company s...

Locked content Lotos to build infrastructure for hydrogen cars

Lotos has begun a project to build infrastructure for hydrogen-powered cars. At the COP24 summit, the company signed a contract for co-financing of a project that will provide for the construction of a hydrogen recovery installation at the refinery and two refueling stations for cars. The value of t...

Locked content Lotos units work on two hybrid locomotives

Lotos Lab and Lotos Kolej, two units of Grupa Lotos, work on a project for construction of two prototype locomotives with hybrid engines by 2022. The project is executed in a test mode, and locomotives currently owned by Lotos Kolej will be used. “If the technical and economic assumptions are confir...

Locked content Orlen aims for Q3 2019 to takeover Lotos stake

WSE-listed, state-controlled fuel giant Orlen expects to takeover 66 percent stake in peer Lotos in Q3 next year, management board advisor Maciej Mataczyński said. “Our ambition is that at the end of the first quarter of 2019 we will secure the regulator’s approval,” he said, adding that such ...

Locked content Orlen launches due diligence of Lotos ahead of potential takeover

WSE-listed, state-run fuel giant PKN Orlen launched the due diligence of its peer Lotos, as part of the planned merger process, Lotos said in a market filing. “The management board of the company informs that it has taken the necessary steps to ensure the due diligence process in accordance with app...

Locked content Lotos dismisses CEO

WSE-listed, state-controlled fuel giant Lotos dismissed its CEO, Marcin Jastrzębski and appointed its to-date Deputy CEO Mateusz Bonca as acting president, the company said in a market filing. No reason for personnel change has been given. Jastrzębski has been running the company since November 2016...

Locked content Energy Ministry supports ‘full’ integration of Orlen with Lotos

The Ministry of Energy hopes that the merger of the state-owned fuel refiners Orlen and Lotos will be “full.” “We have to achieve full integration, otherwise it would make no sense,” Energy Minister Krzysztof Tchórzewski said. The proposed merger would see Orlen buy some 58 percent of Lotos shares c...