PKN Orlen

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PKN Orlen S.A.
Spółka Akcyjna
Traded asWSEPKN
WIG30 Component
IndustryOil and Gas
FoundedPłock, Poland
September 7th, 1999 as Polski Koncern Naftowy
Headquarters,
Key people
Daniel Obajtek Executive Chairman
ProductsFuel, crude oil and other natural gas
RevenueIncrease PLN 95.364 billion (2017)[1] Increase 22 billion (2017)
Increase PLN 8.657 billion (2017)
Increase PLN 7.173 billion (2017)[1]
Total assetsIncrease PLN 60.664 billion (2017)
Total equityPLN 535 million (2017)
Number of employees
20,262 (2017)[2]
Websiteorlen.pl
PKN Orlen headquarters in Płock, Poland.

PKN Orlen (Polish: Polski Koncern Naftowy Orlen) (WSEPKN) is a major Polish oil refiner and petrol retailer. The company is a significant European publicly traded firm with major operations in Poland, Czech Republic, Germany, and the Baltic States. Orlen is a major sponsor of the Williams Racing Formula One team, Polish volleyball, both the national teams and the women's national tournament.[3]

Establishment[edit]

The firm was created through the merger of two state-run petrochemical firms: C.P.N. (Centrala Produktów Naftowych), Communist Poland's petroleum retail monopoly and Petrochemia Płock, the state firm in charge of the oil refineries in Płock, the largest complex of its kind in Poland. After the merger of CPN and Petrochemia Płock in 1999, the company was renamed as Polski Koncern Naftowy (PKN), with Orlen added several months later as the consortium's brand name. The new name is derived from Orl- for "orzeł" (Polish: eagle) and its adjective "orli", and -en for "energia" (Polish: energy).

Privatization and Orlengate[edit]

In 1999, both firms were partially privatized and merged to create a retail and refining company under the name PKN Orlen.

Orlengate is the biggest corruption scandal in the modern political history of Poland. Disclosed in 2004, the scandal started with the arrest on 7 February 2002 by the UOP (Office for State Protection) of Andrzej Modrzejewski, the CEO of PKN Orlen.

Today[edit]

Today, Orlen is the largest fuel retailer in Poland with over 2000 locations. The company runs the most advanced and the second largest complex for terephthalic acid production in Europe.[4] It also has significant investment abroad including the buy out of Mažeikių Nafta and a majority stake in Unipetrol, a Czech refiner. In 2003 PKN Orlen had the chance to acquire 500 filling stations in Northern Germany from BP under premise of an anti-competition rule when BP took over Aral. As of 2007 PKN Orlen has 581 filling stations in Germany (484 under the Star brand, 58 under the Orlen brand and 29 under a supermarket brand).

PKN Orlen was involved in merger talks with MOL Group, a Hungarian oil company in 2005. If merged, the two firms would have created a regional giant, and controlled much of Central Europe's oil industry. However, the planned merger failed due to high politicization. Following the dropped merger plans, PKN Orlen bought a majority stake in Czech Unipetrol. During May 2006, the company announced its largest investment ever when it took over a majority share of Lithuania's Mažeikių Nafta, the largest company in the Baltic States, from Yukos. With the completion of the takeover, PKN Orlen became Central Europe's largest company.

PKN Orlen, under a joint venture with the Netherlands firm Basell, also owns Poland's largest plastics company.

In 2019 and 2020 they will sponsor Williams Grand Prix Engineering and driver Robert Kubica in Formula One with 100 million PLN.[5]

Brands and subsidiaries of Grupa Orlen (PKN Orlen Group)[edit]

Orlen station in Gdańsk, northern Poland
Star station in Germany
Orlen station in Lithuania
  • Orlen (Polish market petrol station brand)
  • Star (German market petrol station brand)[6]
  • Unipetrol (Czech national petrol firm)[7]
  • Benzina (Czech and Slovak market petrol station brand)[8]
  • Spolana (Czech chemical company)[9]
  • ORLEN Lietuva[10]
  • Orlen Paliwa
  • Ship Service
  • Orlen KolTrans
  • Orlen Transport
  • Orlen Oil
  • Orlen Laboratorium
  • Orlen Asfalt
  • Orlen Serwis
  • Orlen Projekt
  • Orlen Budonaft
  • Solino (Industrial brine manufacturer)
  • Basell Orlen Polyolefins (Plastics and synthetic materials)
  • Anwil (Polish chemical firm)
  • Orlen Upstream
  • Orlen International Exploration and Production Company

See also[edit]

References[edit]

  1. ^ a b "Dane finansowe PKN ORLEN". www.orlen.pl.
  2. ^ "Orlen w liczbach". www.orlen.pl.
  3. ^ Poland by Fortune GLobal 500
  4. ^ "Launch of Europe's most advanced PX/PTA complex - PKN ORLEN". www.orlen.pl. Retrieved 19 December 2018.
  5. ^ Media, Wirtualna Polska (21 November 2018). "Dwuletnia umowa i 100 mln złotych. Orlen wyda fortunę na Kubicę - WP SportoweFakty". sportowefakty.wp.pl (in Polish). Retrieved 23 November 2018.
  6. ^ "PKN Orlen to install fast-chargers at 150 service stations in Poland". www.petrolplaza.com. Retrieved 18 December 2018.
  7. ^ "Jakub Kosmowski is the new marketing director of Unipetrol". www.petrolplaza.com. Retrieved 18 December 2018.
  8. ^ Shah, Shakhil (29 August 2018). "PKN Orlen set to take full control of Unipetrol". Emerging Europe. Retrieved 18 December 2018.
  9. ^ www.ETEnergyworld.com. "Poland's PKN Orlen, Tauron eye building power plant in Czech Republic - ET EnergyWorld". ETEnergyworld.com. Retrieved 18 December 2018.
  10. ^ "Poland: Orlen launches two new, quality fuels". www.petrolplaza.com. Retrieved 19 December 2018.

External links[edit]