Locked content PKN Orlen Q3 net profit up at PLN 2.06 bln

PKN Orlen recorded PLN 2.06 billion consolidated net profit attributable to shareholders in Q3 versus PLN 1.6 billion a year ago, the company said. Operating profit amounted to PLN 2.29 billion compared to PLN 2.27 billion y/y. EBITDA stood at PLN 2.98 billion compared to PLN 2.94 billion a year ago...

Locked content Diesel market grew by 30% in 2 years – Orlen estimates

PKN Orlen estimated that in the last two years diesel oil market in Poland grew by around 30 percent due to the reduction of the so-called gray zone. “The increase in the legal sale of fuels has been maintained, which was beneficial for the entire industry, not only for PLN Orlen,” the c...

Locked content PKN Orlen finalizes takeover of Unipetrol 

PKN Orlen has finalized the purchase of 100 percent of the shares in Czech Unipetrol. “The aim of all integration processes is to create an entity that will operate much more efficiently as a whole and which will strengthen its position in a competitive market,” said PKN Orlen CEO Daniel Obajtek. Th...

Locked content PKN Orlen will decide on offshore project in 2019

Next year Poland’s largest oil refiner PKN Orlen will decide whether to enter the offshore wind farm project, executive director for energy projects Jarosław Dybowski said. In some weeks the company will select an advisor, he added. Dybowski also confirmed that PKN may invite a partner to this...

Locked content PKN Orlen pre-notifies EC on merger with Lotos

PKN Orlen sent complete analysis of the merger with Grupa Lotos to the European Commission (EC), as part of the pre-notification process – PKN Orlen CEO Daniel Obajtek informed. “We are in constant talks with the EC and we want to prove that the merger is not a threat to competition on t...

Locked content PKN Orlen and PGNiG discover gas deposit in Wielkopolska

PKN Orlen and PGNiG discovered a new gas deposit in Wielkopolska. The production capacity of the deposit was estimated at 50 million cubic meters of gas annually.  The deposit is located in the area of Płotki on the Śrem-Jarocin concession, PKN Orlen said. It was discovered by the Chwalęcin-1K well,...

Locked content Orlen raises PLN 200 mln in bond issue

Oli giant PKN Orlen sold 2 million series E bonds to investors for a total sum of PLN 200 million, the company stated. Average reduction rate came in at 68.42 percent. The issue is part of the company’s larger bond program aimed at raising a total of PLN 1 billion….

Locked content PKN Orlen to pay PLN 3 dividend per share

Shareholders of PKN Orlen have decided to allocate PLN 1.28 billion from the profit for 2017 for shareholder dividends, which means a payment of PLN 3 per share. The proposed dividend day is July 20, 2018, and the payment date of the dividend is August 3, 2018. The PKN Orlen Group manages six refine...

Locked content PKN Orlen gets approval for Unipetrol squeeze out

PKN Orlen received from the Czech National Bank an approval to acquire the remaining  5.97 percent of Unipetrol shares owned by minority shareholders. The remaining 94.03 percent stake already belongs to PKN Orlen. The deal value is CZK 380 per share or about CZK 4.11 billion in total. Following the...