Locked content PGNiG’s profit doubles

PGNiG reported a huge increase in consolidated net profit in the second quarter of 2015. It amounted to PLN 621 million, whereas last year it was PLN 338 million. Operational profit reached PLN 947 million this year as opposed to PLN 611 million y/y. Consolidated income from sales equalled PLN 7.89 ...

Locked content PGNiG secures $400 mln financing

Natural gas group PGNiG Upstram International signed a deal for a $400 mln loan with a consortium of eight banks, PGNiG said on its website. The consortium comprises Societe Generale, BNP Paribas, ING, HSBC, Citibank, CACIB, SEB and Natixis lenders. The funds will be allocated mainly to the early re...

Locked content Gov’t wants power companies to buy Kompania Węglowa shares

The Polish government is allegedly trying to convince PGE, Energa and PGNiG to purchase stake in Kompania Weglowa (KW), Poland’s biggest miner, in order to save it from bankruptcy, Rzeczpospolita reported. According to recent reports, the government  was planning to raise a special investment ...

Locked content Orlen and PGNiG to explore gas and oil reserves in Karpaty

Orlen Upstream (a subsidiary of PKN Orlen) and PGNiG have signed an Agreement of Joint Operations (Umowa o Wspólnych Operacjach). Based on the agreement,  the companies will carry out research and exploration projects in Podkarpackie voivodeship, a company press release read. “The aim of the j...

PGNiG takes control of Yamal-Europe pipeline

Gas Assets Management, a subsidiary of PGNiG, has acquired a 36.16 percent stake at Gas Trading from Bartimpex. Thus, the Poland’s gas giant has become the main shareholder of the Yamal-Europe pipeline, a company press release stated.

Locked content PGNiG: natural gas H1 sales increased by almost 50% y/y

Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) announced its estimated Q2 results, ISBNews reported. In Q2, the company sold 4.67 billion cbm of natural gas, in comparison with 3.35 billion cbm in Q2 2014. In H1 the sales amounted to 12.35 billion cbm, while in the corresponding period of 2014, PGN...

Locked content Bogdanka and PGNiG change their purchase-sale deal

WSE-listed coal mining company Bogdanka has signed an annex to a purchase-sale contract with PGNiG Termika, a subsidiary of PGNiG’s, according to which the value of the deal was decreased by over 15 percent and totaled PLN 805 million, the Polish Press Agency reported. The annex was drawn up t...

Locked content PGNiG has a green light to acquire Bartimpex and Gas-Trading

Polish antimonopoly watchdog UKOiK has allowed PGNiG and its subsidiary Gas Assets Management (GAM) to take over Bartimpex and Gas-Trading, the office reported. The transaction “will not cause a significant limitation on competition,” UOKiK said in a statement. Bartimpex specializes in h...

Locked content Gazprom could offer discount to PGNiG

Poland’s state-controlled gas distributor PGNiG could receive a discount from its biggest supplier Gazprom, within the next six months, Reuters announced citing the Polish treasury minister said on Tuesday. “There are reasons to expect a lowering of the gas price in the next half a year,...