Locked content PKN Orlen Q2 net profit down

WSE-listed fuel giant PKN Orlen had a PLN 1.541 billion attributable net profit in Q2, down by 10.7 percent q/q and 4.2 percent y/y. Revenues amounted to PLN 23.02 billion, up by 0.7 percent q/q and 19 percent y/y. EBITDA stood at PLN 2.45 billion, down by 4.8 percent q/q and 8.8 percent decline y/y...

Locked content Orlen reappoints CEO, CFO to step down

WSE-listed, state-controlled fuel group PKN Orlen saw its supervisory board reappoint CEO Wojciech Jasiński for another 3-year term, while CFO Sławomir Jędrzejczyk and board member for development and energy, Piotr Chełmiński, will step down after their current terms expire later this month. Jasińsk...

Locked content PKN Orlen posts PLN 1.92 bln attrib. net profit in Q1

WSE-listed fuel giant PKN Orlen had with a PLN 1.92 billion attributable net profit in Q1, up from PLN 337 million y/y. EBIDTA amounted to PLN 2.84 billion, compared to PLN 1 billion the year before. Revenue stood at PLN 2.27 billion compared to PLN 478 million result in Q1 last year. EBITDA earning...

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 ...