New PKN Orlen CEO has an ambitious strategy
Jacek Krawiec said he intends to do this through market consolidation, oil extraction and development of retail sales over the next three years. "The company is extremely undervalued when we compare our indicators with other fuel sector companies," said Krawiec.
One of the ways to achieve this objective would be the consolidation of widely perceived energy sector. "In this way we shall also get closer to our regional competitors - MOL and OMV. Capitalization of the Austrian firm presently stands at about zł.36 billion, and Hungarian MOL - almost zł.22 billion, while Orlen's - roughly zł.15 billion. With such distribution of power there is no way of planning oil alliances in the region," said the CEO.
In his opinion, a potential consolidation partners could be Lotos, Polish Oil and Gas (PGNiG) and energy companies - PGE, Energa and Tauron. "This is an initial concept, for the time being and most likely it will not be included in the currently updated strategy of company's development,"
said Krawiec.
Sources: Puls Biznesu, Parkiet (M.M.)
One of the ways to achieve this objective would be the consolidation of widely perceived energy sector. "In this way we shall also get closer to our regional competitors - MOL and OMV. Capitalization of the Austrian firm presently stands at about zł.36 billion, and Hungarian MOL - almost zł.22 billion, while Orlen's - roughly zł.15 billion. With such distribution of power there is no way of planning oil alliances in the region," said the CEO.
In his opinion, a potential consolidation partners could be Lotos, Polish Oil and Gas (PGNiG) and energy companies - PGE, Energa and Tauron. "This is an initial concept, for the time being and most likely it will not be included in the currently updated strategy of company's development,"
said Krawiec.
Sources: Puls Biznesu, Parkiet (M.M.)
