Reducing Activities: company scaling back some business operations while continuing others

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PKN Orlen is a Polish oil refinery, the largest in Poland. It is engaged in the extraction, processing and sale of oil and gasoline in Poland, the Czech Republic, Germany and the Baltic countries.

Reducing Activities: company scaling back some business operations while continuing others

Stay Scaling Back
Glob.Revenue, mln.USD
34029

Polish state energy firm Orlen has announced that it will take legal action over the recent suspension of oil supplies from Russia to Poland via the Druzhba pipeline. Orlen is taking over the Polish section of the Yamal gas pipeline. Orlen said that under the deal Europol Gaz would buy back Gazprom's shares in the company and Orlen would take control over the system of gas transit pipelines. Gazprom wants to recover $935 million from Polish Orlen through a Russian court.

The Company Statement
May 07, 2023

Stopped maritime oil shipments, diversifying supply. Orlen expects to continue receiving Russian oil through the Druzhba pipeline in 2023 in the amount of 3 million tons per year, despite the statements of the Polish authorities about their intention to refuse such supplies. The Polish concern Orlen will not renew the contract for Russian oil, which will expire in January 2023. Poland's PKN Orlen ends final Russian oil contract without penalties. Later, Daniel Obajtek said his company was still using Russian oil piped through the Druzhba network for its Czech refinery in Litvínov, which has not been covered by sanctions. Orlen Trading Switzerland got into a big scandal due to violation of sanctions, its directors were arrested.

June 12, 2024Scandal in Poland. A subsidiary of the country's largest company is suspected of violating sanctions
March 11, 2024Russian tax authorities intend to file a bankruptcy claim against the Polish PGNiG
March 11, 2024The Federal Tax Service intends to file a bankruptcy claim against the Polish PGNiG
March 07, 2024Gazprom wants to recover $935 million from Polish Orlen through a Russian court
October 10, 2023Orlen says it is taking over Polish section of Yamal pipeline
August 31, 2023Exclusive: Poland charters tankers used for Russian oil to import Arab crude
April 05, 2023Poland's PKN Orlen ends final Russian oil contract without penalties, says CEO
March 06, 2023Polish state energy firm Orlen to sue Russia for halting oil supplies
December 21, 2022The Polish concern Orlen will not renew the contract for Russian oil, which will expire in January
November 16, 2022Orlen expects to continue receiving Russian oil through the Druzhba pipeline in 2023
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