Locked content PGNiG lowers planned EBIDTA in its strategy update

WSE-listed gas group PGNiG plans to generate an average EBITDA of PLN 5.6 billion per year throughout 2017-2022 period. For the 2023-2026 period, EBIDTA should grow to PLN 9.2 billion per annum on average, the company said in its updated strategy. The previous strategy, posted in April last year, as...

Locked content PGNiG with PLN 0.69 bln Q4 net profit

WSE-listed gas giant PGNiG had a PLN 0.69 billion in net profits for Q4, according to the company’s preliminary financial report. The Q4 EBIT was PLN 1.02 billion, while EBITDA at PLN 1.69 billion. The revenue stood at PLN 10 billion. For the whole 2016, the net profit was PLN 2.32 billion. Th...

Locked content PGNiG signs PLN 1.4 bln deal with ArcelorMittal

WSE-listed natural gas giant PGNiG signed a contract with Polish subsidiary of ArceorMittal to deliver natural gas valued at PLN 1.4 billion. The deal will run through 2017-19 and has an option for a three year extension. The contract is based on “market terms at prices tied to stock exchange indexe...

Locked content Orlen and PGNiG to look for deposits together

State controlled fuel group PKN Orlen and natural gas producer PGNiG have expanded their cooperation in the hydrocarbon exploration in the Lubelskie basin. Under the deal, Orlen will share its 3D seismic data from the concession. Orlen and PGNiG have been cooperating since 2007. Currently, they work...

Locked content PGNiG opens LNG trading desk in London

WSE-listed, state-controlled, gas giant PGNiG, has opened its LNG trading office in London aimed to boost its sales. “We’ve considered a number of locations, including Singapore, Houston and Geneva, but we’ve decided on London, despite the recent geopolitical changes. This is where LNG i...

Locked content PGNiG to focus on its Norwegian assets

State-controlled gas giant Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) will focus its exploration activity on its assets in Norway, company’s PR manager Robert Papliński said in Rzeczpospolita daily. In the first quarter of this year, the company will begin extraction on its Gina Krog depo...

Locked content PKO BP and PGNiG make deal on transaction banking 

PKO Polish Bank and the Polish Oil and Gas Company (PGNiG) have signed an agreement on strategic cooperation in the field of banking transactions, the companies announced today. In addition, as a result of winning the tender, PKO BP will handle complex accounts for PGNiG Trading Retail (PGNiG OD), a...

Locked content PGNiG teaming up with Pakistani company for more gas drilling

Poland’s largest oil and gas company will drill for more gas in Pakistan’s Rehman deposit. The company said in a press release on Friday that it had been granted a concession for 25 years, with possibility of extension. It has already been extracting gas in the area since 2005. “For the remainder of...

Locked content PGNiG gas and oil sales up in IV 2016

Polish Oil and Gas Company (PGNiG) sold 7.37 billion cubic meters of gas in the fourth quarter of 2016 compared to 6.54 billion cubic meters in the same period of 2015. Sales of natural gas in the whole of 2016 amounted to 24.36 billion cubic meters, which was up slightly from 23 billion cubic meter...