Image : Courtesy of Orlen

Lithuania pays €28 mln fine to Orlen for dismantling tracks

The state-run Lithuanian railway operator company Lietuvos Gelezinkeliai has paid the €28 million fine imposed by the European Commission to WSE-listed refinery giant Orlen for dismantling the railway connecting Orlen’s refinery in Mazeikiai and the Latvian city of Renge.

Locked content Orlen closer to full Unipetrol takeover

The largest minority shareholder of Czech Unipetrol, Paulinino will sell its stake to WSE-listed fuel giant PKN Orlen, the company said. Paulinino, which owns 20 percent stake in Unipetrol decided to sell as it expects the high performance in the sector would be hard to maintain. “Such favorable mac...

Locked content Orlen to bid on remaining stake in Czech Unipetrol

WSE-listed, state-owned oil giant PKN Orlen launched a voluntary tender offer to buy the remaining shares in its Czech peer Unipetrol in which holds a 62.9 percent stake. Orlen is offering CZK 380 per share and will proceed to a purchase if 90 percent of the shares are tendered, allowing the group t...

Locked content Azoty should takeover Anwil’s fertilizer business – CEO

The CEO of state-owned chemicals group Azoty would like to see his company taking over the fertilizer portion of another state-owned company Anwil. “I personally support the concept of spinning off Anwil’s fertilizer operations. It would perfectly fit Azoty,” Wojciech Wardacki said. “I know th...
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 Orlen remains the biggest company in the CEE – report

State-owned fuel giant once again took the top spot in the ranking of CEE largest companies compiled by Coface. The second was Czech automotive giant Skoda Auto, while Hungarian oil firm MOL was third. Other Polish companies in the top ten, include, Biedronka operator Jeronimo Martins Polska (4th pl...

Locked content Orlen launches PLN 1 bln retail bond program

WSE-listed fuel giant PKN Orlen will launch a PLN 1 billion retail bond program for issuance over the coming 12 months, the company said in a market filing. Bonds will be sold in a number of issues via public offering and listed on the WSE’s Catalyst bond trading platform….

Locked content Government sending mixed signals regarding repolonization

Cabinet minister Henryk Kowalczyk said in an interview with TV Republika that the treasury should increase its stakes in PKN Orlen and Grupa Azoty, while suggesting that Orlen and Lotos should merge. The energy ministry later said that no such plans are currently being developed. “The level of holdi...

Locked content POPiHN: 6,803 gas station in Poland. Highest number since 2012

According to sector lobby organization POPiHN, Poland had 6,803 gas station in 2016, making it the biggest number in four years. According to data, 33.1 percent of the facilities is controlled by Polish companies, 29.6 percent is owned by independent operators, while 21.6 percent is run by foreign e...