Locked content PKN Orlen and PGNiG to expand in Poland

Poland’s largest refiner PKN Orlen along with listed natural gas group PGNiG have signed a letter of intent on cooperation in E&E activities in new areas in Poland, PKN Orlen informed in a market filing. “The companies express the will to cooperate in the following regions: the Pomer...

Locked content UOKiK approves takeover of JSW’s unit by PGNiG Termika

PGNiG Termika has been granted unconditional approval issued by the head of antimonopoly watchdog UOKiK for the takeover of Jastrzębska Spółka Węglowa’s (JSW) heat and power generating unit SEJ, the watchdog informed. PGNiG Termika called for the sale of 100 percent stake in JSW’s heat u...

Locked content JSW to sell one more unit to PGNiG for PLN 372 mln

Coal producer Jastrzębska Spółka Węglowa (JSW) has landed a preliminary deal to sell 100 percent of its heat and power generating unit SEJ to PGNiG Termika, a heat unit of listed natural gas giant PGNiG, for PLN 371.8 million, the company informed. JSW will receive a downpayment of PLN 278.9 million...

Locked content PGNiG to open sales office in London

Polish state-controlled natural oil and gas company PGNiG has decided to open a sales department in London that will trade liquefied natural gas. It is set to be launched in January 2017, the company said. The project will be managed by PGNiG’s German subsidiary, which already has permits to t...

Locked content PGNiG’s unit to reach EBITDA of PLN 16 bln

Polska Spółka Gazownictwa (PSG), a subsidiary of PGNiG, intends to reach PLN 16 billion in cumulative EBITDA in years 2016-2022, PSG CEO Jarosław Wróbel said. “Within six years we want to reach cumulative EBITDA at the level of some PLN 16 billion. The volume of gas distributed in this period ...

Locked content Poland aims to end long-term gas supplies from Russia after 2022

Poland does not plan to renew a long-term gas supply contract with Russia when its current deal with Gazprom expires in 2022, a government official responsible for gas and power infrastructure told Reuters on Monday. “We will be aiming at a situation where a long-term contract becomes a thing ...

Locked content PGNiG with another concession on Barents sea

Listed natural gas group PGNiG has been awarded a 25 percent stake in an exploration concession on the Norwegian continental shelf on the Barents Sea, the Polish Press Agency said. Upstream firm Capricorn Norge AS will hold the remaining 75 percent stake in the PL 856 concession and will be its oper...

Locked content PGNiG may cease exploration for shale gas in June

Polish state-controlled oil and gas company PGNiG will end exploration for shale gas if a “last chance” well does not yield promising results in June, Piotr Woźniak, the CEO of the company, told reporters on Tuesday. PGNiG will start fracking a shale gas well in northern Poland on June 6...

Locked content Wprost names 200 biggest Polish companies

PKN Orlen is the largest Polish company, according to new Wprost’s  rating edition of the 200 biggest Polish companies. The first two positions invariably belong to the fuel giant PKN Orlen (1st place) and oil & natural gas company PGNiG (2nd). Grupa Lotos ranked in 3rd place, replacing Po...

Locked content PGNiG records a PLN 1.39 bln net profit in Q1

Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) reported a consolidated net profit of PLN 1.39 billion in Q1 2016, compared to PLN 1.24 billion in Q1 2015, the company announced in a report. The company’s operating profit stood at PLN 1.72 billion, versus PLN 1.66 billion one year before. Cons...