Locked content PGNiG sold 248,000 tons of oil and 6.82 billion cubic meters of gas

State-owned PGNiG sold 248,000 tons of oil in Q4 2014, versus 401,000 tons a year before. The natural gas sale amounted to 6.82 billion cubic meters, compared with 4,48 billion m³ in 2013, the company announced. In the last 12 months, PGNiG increased its oil sale to 1.169 million tons from 1.105 mil...

Locked content PGNiG to enhance oil and gas production

WSE-listed PGNiG set to increase daily oil and gas extraction to 150,000 barrels of oil equivalent (BOE) until 2022 from 90,000 BOE currently. To reach the target, the company plans acquisitions abroad, mainly in Europe, North America and South-West Asia, Zbigniew Skrzypczewicz, PGNiG vice-president...

Locked content PGNiG with another license in Norway

PGNiG Upstream International (PGNiG UI) became the operator of PL 799 license in the Norwegian Sea. The Norwegian government granted the Polish company with 40 percent of the stakes. The partners of PGNiG UI are the following firms: Statoil Petroleum AS (Norway’s biggest oil and gas company), ...

Locked content PGNiG reduces costs and plans acquisitions

State controlled PGNiG announced it will cut administrative costs by PLN 1 billion by 2016, as part of a new strategy. “Since December we are working on our ‘zero initiative’ under which we are examining expenditures. The results of the audit will influence general management costs,” Mariusz Zawisza...

Locked content Govt to consolidate energy sector

The Ministry of the Treasury will present a report on consolidation of Polish energy industry through the end of January, Polish Press Agency reported. The government is willing to strengthen the regional position of the sector, “We seek to increase the importance of Poland’s energy industry on the ...

Locked content PGNiG and LOTOS Petrobaltic to explore for oil

PGNiG and LOTOS Petrobaltic have signed a deal for joint operations to explore for oil in north-eastern Poland on the Górowo-Iławieckie exploring license, according to a press statement. The aim of the cooperation is to undertake a 2D seismic survey of a total length of 400 km combined with reproces...

Locked content POLPX to lower fees

POLPX power exchange is going to lower fees and extend trading hours in order to attract new customers and strengthen its position in the region, bourse CEO, Ireneusz Lazor revealed in an interview with Reuters.  “The great task is attracting new participants, since it is impossible to grow without ...

Locked content PGNiG to buy 4 Norwegian oil fields

Polish state-controlled gas and oil giant PGNiG will buy four oil assets on the Norwegian Sea shelf from Total E&P Norge AS (Upstream International AS) for roughly PLN 400 million. The ultimate cash payment accounts for 43 percent of the purchase price (PLN 980 million). “A significant por...

Locked content ZA Puławy seals PLN 894 mln deal with PGNiG

Fertilizer producer Zakłady Azotowe Puławy (ZA Puławy) from the Grupa Azoty holding has signed a PLN 894 million annex to a natural gas purchase contract with PGNiG. The document regulates the purchase of gas by ZA Puławy in 2015. The contract value is lower compared to the one signed for 2014. ZA P...