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29.02.2024
ORLEN Group confirms gas and condensate reserves in Adriana discovery

PGNiG Upstream Norway and its license partners successfully completed drilling in the PL211 CS licence in the Norwegian Sea. The appraisal well confirmed that the Adriana field contains natural gas and condensate reserves of 28-43 million barrels of recoverable oil equivalent.

22.02.2024
ORLEN Group consolidated results for Q4 2023

In the three months ended 31 December 2023, the ORLEN Group generated LIFO-based EBITDA* of PLN 11.2bn and net profit of PLN 7.3bn. The full-year LIFO-based EBITDA* for 2023 was PLN 44.8bn and net profit reached PLN 27.6bn. The Group’s fourth-quarter results were positively impacted by the performance of the gas segment, which delivered an EBITDA of PLN 11bn, primarily on the back of lower gas procurement costs and higher sales. ORLEN also increased its retail sales volumes by more than 20% (y/y), partly as a result of the acquisition of service stations in Hungary and Slovakia.

14.02.2024
New insights into CEE’s energy transition

The ORLEN Group has prepared the first report dealing so comprehensively with the pace and trajectories of Central and Eastern Europe’s energy transition. The examination of the region’s energy markets helps comprehend its potential while underscoring its specific conditions in comparison with the rest of the EU, influenced by geopolitics and wealth levels, among other factors. The complete report is available at future.orlen.pl

06.02.2024
ORLEN’s ESG rating upgraded

MSCI has upgraded ORLEN’s ESG rating from ‘BBB’ to ‘A’. Compared to previous scores, there have been upgrades in the environmental and social aspects, represented by the ‘E’ and ‘S’ of the ESG acronym. Significant progress has been noted in emissions reporting, decarbonisation plans, and leveraging investment opportunities in energy transition supported by clean technologies. The company has once again received very high ratings for safeguarding workers’ rights and ensuring occupational health and safety.

06.02.2024
Changes on ORLEN Management Board

The Minister of State Assets appointed Witold Literacki to the ORLEN Management Board with effect from 6 February 2024.  Furthermore, at today's meeting the Company's Supervisory Board appointed Witold Literacki as acting President of the Management Board with effect from 6 February 2024. At the same meeting, the following members of the current Supervisory Board: Kazimierz Mordaszewski, Tomasz Sójka and Tomasz Zieliński were delegated to the Management Board for up to three months, until a new Management Board is appointed. The new Management Board will be appointed following a competition-based recruitment process.

01.02.2024
Release of the Report “Multi-Energy ORLEN. The Company’s Growth from 2016 to 2023”

“Since the commencement of my mission at the ORLEN Group, I have operated under the steadfast belief that mediocrity is not an option. I can now proudly say that, through collective efforts, we have successfully secured our place as a fully-fledged member of the premier league of Europe’s major players,” declares Daniel Obajtek, CEO and President of the Management Board of ORLEN S.A., in his introductory remarks to our latest report titled “Multi-Energy ORLEN. 

17.01.2024
PGNiG Upstream Norway with 12 new licenses on the Norwegian Continental Shelf

PGNiG Upstream Norway AS (PUN) has obtained ten new license areas for exploration on the Norwegian Continental Shelf as a result of Awards in Predefined Areas (APA) for 2023. In total, 25 oil companies from all over the world applied. PUN will act as the operator of one of the ten newly awarded licenses. It should be noted as well that through the purchase of KUFPEC Norway AS, PUN will ultimately inherit two additional new license areas around the Sleipner Field. As a result, the number of licenses in Norway, in which PUN, the company of the ORLEN Group, holds shares, will increase to 104.