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 Orlen receives Iranian oil shipment

WSE-listed fuel group Orlen received the spot delivery of Iranian crude oil on Friday, the company said in a market filing. “Delivery from Iran has become a fact. Oil from the Middle East gives us many opportunities. First of all, it enables diversification of delivery directions and increases the e...

Locked content Lotos may take over Orlen in planned Orlen-Lotos merger – sources

According to sources cited by daily Rzeczpospolita, it could be the Lotos Group taking over Orlen, rather than the other way round, in the planned transaction set to merge the two fuel concerns. Orlen will issue shares that will be acquired by the shareholders of the Płock-based Lotos Group. This tr...

Locked content Orlen wants to invest in wind farms

WSE-listed fuel giant Orlen announced a tender for the development of a preliminary technical concept that will determine the possibilities for preparing and implementing an offshore wind farms project in the Baltic Sea, the company said. The maximum power capacity of the installation was set at 1,2...

Locked content Six dead in an explosion at Orlen’s Czech unit plant

Six people died in an explosion at a storage tank at Kraluoy refinery owned by Unipetrol, a Czech unit of WSE-listed fuel group Orlen. “I can confirm that the event took place at the refinery of Unipetrol in Kralupy nad Vltavou. One of the storage tanks exploded without a subsequent fire in the Kral...

Locked content Orlen orders crude oil from Iran

WSE-listed fuel group Orlen will receive a spot delivery of 130k metric tons of Iranian crude oil mid-April, the company said in a market filing. “Diversification is our priority when it comes to oil purchases. We are always looking for new directions and solutions, remembering that we must effectiv...

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...