Literary: Orlen focuses on the development of its own hydrocarbon extraction

Luc Williams

Literary during Orlen’s results conference, he emphasized that one of the challenges of the company’s new management board is building company value.

Green energy in the service of petrochemistry

“My ambition will be to keep it in its current form Orlen Group was able to use its potential created after the mergers. The implementation of projects in the field is particularly important to me energy transformation” – said the head of the Płock concern.

He recalled that the company currently has renewable energy capacity at a level of nearly 1 GW. “In this area, the Group will continue to develop both through investments and new acquisition processes,” he added.

Only the best designs

Literary assured that new management “will pay more attention to the Group’s financial discipline.” Planning investments in 2024 they are expected to reach PLN 38 billion, of which nearly PLN 28 billion will be allocated to development investments.

“We must ensure that every zloty is spent optimally, so it will be very important to select projects generating the highest returns and with the best prospects for shareholders,” he added.

Orlen focuses on independence

Acting president of the Płock concern he pointed out that in the face of the unstable economic and geopolitical situation, “we will strengthen our own security, among others, through development of own hydrocarbon extraction in politically stable regions.

The Orlen Group is a multi-energy concern that owns, among others: refineries in Poland, the Czech Republic and Lithuania, as well as a network of gas stations, including in Germany, Slovakia, Hungary and Austria. At the same time, it is developing the hydrocarbon mining segment, the petrochemical segment and the renewable energy sources segment, and plans to develop safe nuclear energy.

author: Michał Boroń


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