Locked content PKN Orlen lays out capital expenditure plans for 2017

PKN Orlen, which operates six refineries in Poland, Lithuania and the Czech Republic and also conducts mining operations in Canada, will increase its capital expenditures in 2017, in comparison to 2016, the company said in a press statement on Thursday. It will invest PLN 3.3 billion in development ...

Locked content PKN Orlen Group releases investment strategy for 2017-2021

PKN Orlen, Poland’s largest oil and gas producer and distributor, on Friday revealed its investment strategy for 2017 to 2021, noting that oil market instability had played a part in its decision to hold off, for now, on securing new mining acquisitions. “At this stage we are not working on a specif...

Locked content PKN Orlen buys 1 mln oil barrels from Iran

PKN Orlen bought 1 million barrels of Iranian Light crude oil, which will be shipped by sea to Gdansk’s Naftoport in January 2017, the company said in a statement released to the Polish press on Wednesday.  “[We] aim to build business relationships with the largest oil producers in the world and ope...

Locked content Orlen using new technology to minimize harmful gases

PKN Orlen announced that it is testing an innovative technology in which unpleasant and potentially-toxic gases in sewage are eliminated by naturally occurring bacteria, the Polish press reported on Wednesday. At their manufacturing plant in Płock, testing has begun in which the gases are subjected ...

Locked content PKN Orlen inks contract with major Czech oil transporter

Poland’s largest oil and petroleum products company has expanded its operations to the Adriatic Sea. According to a statement released to the Polish press on Wednesday, PKN Orlen signed a three-year contract with Jadranski Naftovod (JANAF). The agreement allows the Polish petro giant to transport cr...

Locked content Orlen extends deal with Saudi Aramco

PKN Orlen will continue to acquire oil from Saudi Aramco well into next year, according to a statement by the company’s president. “We are pleased to work with Saudi Aramco, given the current, very good cooperation with the Saudi company, Orlen has decided to extend the contract,” Wojciech Jasiński ...

Locked content PKN Orlen profits rise sharply y/y in Q3

PKN Orlen recorded a net profit of PLN1.53 billion in Q3 of 2016 compared to 795 million a year earlier, the company announced. The operating profit rose to PLN 1.77 billion, up from PLN 1.16 billion a year earlier, while the EBITD result rose y/y to PLN 2.31 billion from PLN 1.63 billion. However, ...

Locked content CBA investigates PKN Orlen, Lotos, KGHM, Azoty and PGZ

The Central Anti-Corruption Bureau (CBA) instituted control procedures at companies fully owned by the State Treasury and all its subsidiaries: fuel groups PKN Orlen, Lotos, copper group KGHM Polska Miedź, chemicals Azoty Group and Polish Armaments Group – PGZ, the bureau announced on its webs...

Locked content Orlen to pay PLN 200 million in retail tax

Polish state-owned refinery giant PKN Orlen estimates it will have to pay in PLN 200 million a year in retail tax, the company said in a communique for the Polish Press Agency (PAP). The company also reminded that gasoline stations run by franchise owners are separate entities and the calculation ex...