en
13 November 2024
For the third quarter of 2024, the ORLEN Group has posted robust operating performance, with adjusted LIFO-based EBITDA at PLN 8.1 billion amid increased macroeconomic headwinds, including a 65% y/y decline in refining margin. The LIFO-based EBITDA adjusted for one-offs and regulatory impacts was on a par with last year’s level (of PLN 8.6 billion). […]
21 October 2024
ORLEN has entered into a EUR 2 billion credit facility agreement with a syndicate of 16 banks, ensuring the Group has access to financing for its ongoing business requirements. This revolving credit facility replaces the previous agreement and will be utilised to support the Group’s day-to-day trading and operating needs. “The renewable structure of this […]
4 September 2024
ORLEN has entered into a five-year exclusive agreement with Lithuania’s KN Energies, previously known as Klaipedos Nafta, granting it sole access to a small-scale LNG reloading wharf station in Klaipėda, which will bolster gas supply to north-eastern Poland and the broader Baltic region. Since the initiation of an earlier contract, ORLEN has received nearly 60 […]
3 September 2024
PGNiG Upstream Norway from ORLEN Group commenced the production of oil from Tyrving field in the North Sea. Tyrving reserves are estimated at ca. 25 million barrels. Production from Tyrving will have an exceptionally low carbon footprint of 0.3 kg per barrel. With Tyrving startup, the number ORLEN’s producing assets in Norway increased to 20 […]
2 August 2024
ORLEN Wind 3, a subsidiary of the ORLEN Group, has entered into a preliminary agreement with EDP Renewables Polska to acquire two solar PV farms with a combined capacity of 280 MWp located in the Provinces of Zielona Góra and Poznań, along with a 26 MW wind farm in the Province of Łódź. Valued at […]
8 July 2024
ORLEN, through its subsidiary PGNiG Supply & Trading, has signed a contract with a Slovak company ZSE Group for the sale of gas, the volume of which will cover approximately 30% of ZSE’s demand during the year. The contract exemplifies increasing cooperation among CEE companies to diversify supply sources and enhance gas security within the […]
24 June 2024
ORLEN Group will become a license partner in one of the five largest discoveries made on the Norwegian Continental Shelf in the last 10 years. As a result of a sales and purchase agreement signed with Source Energy, PGNiG Upstream Norway will obtain 20% stake in the Atlantis field in the North Sea. By acquiring […]
5 June 2024
PGNiG Upstream Norway of ORLEN Group has bought an additional 19.5% stake in the Eirin gas field from Equinor Energy. As a result of the transaction, the volume of gas that ORLEN Group will produce from the field will almost double, to over 1.5 billion cubic metres. The purchase will provide PGNiG Upstream Norway with […]
22 May 2024
In the three months ended 31 March 2024, the ORLEN Group generated LIFO-based EBITDA* of PLN 8.4 billion and net profit of PLN 2.8 billion. The stable financial results were delivered with a PLN 1 billion q/q reduction in net debt. Over the period, the Group invested nearly PLN 6.4 billion across all its business […]
10 April 2024
On 10 April 2024, the Supervisory Board of ORLEN S.A. appointed Mr Ireneusz Fąfara to serve as President of the Management Board of ORLEN S.A., effective 11 April 2024. Concurrently, the Supervisory Board appointed Mr Witold Literacki as First Vice President of the Management Board for Corporate Affairs, effective 11 April 2024, and recalled the […]
9 April 2024
The ORLEN Group has increased the volume of natural gas transported to Poland from its own production assets in Norway by more than 30%, equating to an additional 1 bcm annually. Gas produced from Norwegian fields by PGNiG Upstream Norway already accounts for about a half of the entire Baltic Pipe capacity booked by ORLEN. […]
29 July 2021
PGNiG Supply & Trading signed a contract for chartering two LNG carriers. The vessels will be built exclusively for the PGNiG Group and will enter service in the first half of 2024.
