* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, August 14, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Georgia Tech Launches Arts, Entertainment, and Creative Technologies Degree – Georgia Tech News Center

    Georgia Tech Unveils Exciting New Degree in Arts, Entertainment, and Creative Technologies

    John Davison departs from IGN Entertainment – GamesIndustry.biz

    John Davison Steps Down from IGN Entertainment Leadership

    JPMorgan raises Flutter Entertainment stock price target to GBP273 – Investing.com

    JPMorgan Raises Flutter Entertainment Price Target to £273, Signaling Strong Growth Ahead

    Star Entertainment reaches deal to sell 50% stake in Brisbane resort to HK investors – Reuters

    Star Entertainment Seals Landmark Deal, Sells Half of Brisbane Resort to Hong Kong Investors

    Country music star ripped by ex-wife amid court battle: ‘Karma is a … well you know’ – PennLive.com

    This LA singer performed at Trump casinos. Now he’s a retired bus driver in Acadiana. – The Advocate

    This LA singer performed at Trump casinos. Now he’s a retired bus driver in Acadiana. – The Advocate

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Technology Sector Fuels Nearly 40% of Office Leasing Amid Rapid Expansion of Global Enterprises in India

    Indirect tax transformation: Navigating change, embracing technology – Thomson Reuters tax and accounting

    Revolutionizing Indirect Tax: Embracing Technology to Navigate Change

    California’s wildfire moonshot: How new technology will defeat advancing flames – Los Angeles Times

    California’s Wildfire Revolution: How Cutting-Edge Technology Is Poised to Stop Raging Flames

    LSU grad uses 3D printing to create adaptive technology for children – CBS News

    LSU Graduate Revolutionizes Adaptive Technology for Kids with 3D Printing

    Gas-to-liquids technology can support national resilience – The Strategist | ASPI’s analysis and commentary site

    Unlocking National Strength: How Gas-to-Liquids Technology Drives Resilience

    Micron Technology (MU) Launched a New Memory Chip for Space Application – Yahoo Finance

    Micron Technology Launches Revolutionary Memory Chip Built for Space Exploration

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Georgia Tech Launches Arts, Entertainment, and Creative Technologies Degree – Georgia Tech News Center

    Georgia Tech Unveils Exciting New Degree in Arts, Entertainment, and Creative Technologies

    John Davison departs from IGN Entertainment – GamesIndustry.biz

    John Davison Steps Down from IGN Entertainment Leadership

    JPMorgan raises Flutter Entertainment stock price target to GBP273 – Investing.com

    JPMorgan Raises Flutter Entertainment Price Target to £273, Signaling Strong Growth Ahead

    Star Entertainment reaches deal to sell 50% stake in Brisbane resort to HK investors – Reuters

    Star Entertainment Seals Landmark Deal, Sells Half of Brisbane Resort to Hong Kong Investors

    Country music star ripped by ex-wife amid court battle: ‘Karma is a … well you know’ – PennLive.com

    This LA singer performed at Trump casinos. Now he’s a retired bus driver in Acadiana. – The Advocate

    This LA singer performed at Trump casinos. Now he’s a retired bus driver in Acadiana. – The Advocate

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Technology Sector Fuels Nearly 40% of Office Leasing Amid Rapid Expansion of Global Enterprises in India

    Indirect tax transformation: Navigating change, embracing technology – Thomson Reuters tax and accounting

    Revolutionizing Indirect Tax: Embracing Technology to Navigate Change

    California’s wildfire moonshot: How new technology will defeat advancing flames – Los Angeles Times

    California’s Wildfire Revolution: How Cutting-Edge Technology Is Poised to Stop Raging Flames

    LSU grad uses 3D printing to create adaptive technology for children – CBS News

    LSU Graduate Revolutionizes Adaptive Technology for Kids with 3D Printing

    Gas-to-liquids technology can support national resilience – The Strategist | ASPI’s analysis and commentary site

    Unlocking National Strength: How Gas-to-Liquids Technology Drives Resilience

    Micron Technology (MU) Launched a New Memory Chip for Space Application – Yahoo Finance

    Micron Technology Launches Revolutionary Memory Chip Built for Space Exploration

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Poland’s Orlen Lays Out Red Lines For Buying Stake in German Schwedt Refinery

July 3, 2023
in Business
Poland’s Orlen Lays Out Red Lines For Buying Stake in German Schwedt Refinery
Share on FacebookShare on Twitter

Poland’s largest oil company may buy a stake in an east German refinery only after the government in Berlin decides to dump Russia’s biggest crude producer as its shareholder, PKN Orlen SA Chief Executive Officer Daniel Obajtek said.

Author of the article:

Bloomberg News

Bloomberg News

Maciej Martewicz

Published Jul 03, 2023  •  3 minute read

5j4a3290om(9qlnjnqnq9]ju_media_dl_1.png 5j4a3290om(9qlnjnqnq9]ju_media_dl_1.png Source: Orlen annual report

(Bloomberg) — Poland’s largest oil company may buy a stake in an east German refinery only after the government in Berlin decides to dump Russia’s biggest crude producer as its shareholder, PKN Orlen SA Chief Executive Officer Daniel Obajtek said.

Advertisement 2

This advertisement has not loaded yet, but your article continues below.

Financial Post

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others. Daily content from Financial Times, the world’s leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword.

SUBSCRIBE TO UNLOCK MORE ARTICLES

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others. Daily content from Financial Times, the world’s leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword.

REGISTER TO UNLOCK MORE ARTICLES

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors.

The ultimatum follows months of speculation that Orlen is looking at investing in the PCK facility in Schwedt to ensure supplies to its own gas-station network in neighboring Germany and help with deliveries to the domestic market.

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

The main sticking point is the ownership of the plant. Even after the German authorities took operational control of PCK, Rosneft PJSC still holds a 54% stake, with Shell Plc and Eni SpA the remaining shareholders. 

“We don’t want to enter into any relationship with investors from the East,” Obajtek said in an interview on June 27. “This issue needs to be first resolved by the German side.”

Germany, which has been a target of barbs from the Polish government for its past energy policies toward Russia, adopted a law this year that would allow it to seize Rosneft assets, but is yet to start that process. 

Article content

This advertisement has not loaded yet, but your article continues below.

Article content

The government in Berlin is open to an offer from Poland, but has no immediate plans to sell Rosneft shares, people familiar with the matter said. Instead, it’s likely to renew the temporary trusteeship adopted in September, according to people, who declined to be named because the talks are private.  

Read: Germany, Kazakhstan Sign Deal for Oil Supply to Schwedt Refinery

The Schwedt refinery, which supplies the bulk of fuels for Berlin, had been operating at up to 60% capacity earlier this year after losing its main route for Russian oil supplies. Deliveries have been helped by a link with the Polish port of Gdansk and an agreement with Kazakhstan for 100,000 tons of crude a month.

“In the case of the Schwedt refinery, we should assess its impact on the Polish market in the future and analyze the sense of such investment from this point of view,” Obajtek said. The company is “always interested” in investing in projects that would benefit its business and doesn’t rule out expanding its portfolio in “many areas, including refining,” he added.

This advertisement has not loaded yet, but your article continues below.

Article content

Can’t Stand Still

State-run Orlen, which more than doubled its operations since the start of last year after taking over Poland’s Grupa Lotos SA and PGNiG SA, is seeking to invest 320 billion zloty ($78 billion) this decade. It already has refineries in Poland, Lithuania and the Czech Republic.

Mergers so far were estimated to bring about 10 billion zloty in synergies, but the CEO said the final number will be higher. The company, which pledged to pay dividend every year while keeping its financial ratios at a “safe” level, plans to invest 36 billion zloty this year and a “similar or slightly higher” amount in 2024. 

The expansion comes against the backdrop of European Union plans to ban the registration of new combustion engine cars from 2035. Orlen recently decided to drop reference to oil production from the company’s name to underline a planned switch to cleaner energy with a focus on low-emission power production, natural gas and the petrochemical business. 

This advertisement has not loaded yet, but your article continues below.

Article content

The company and its partners are developing small nuclear reactors, or SMRs, with plans to build the first unit in 2029 in a bid to replace aging coal-fired plants in Poland. It’s also building its first offshore wind farm and is analyzing the next investments on the Baltic Sea after winning five new licenses.

At the same time, Orlen continues to expand its fuel business in an effort to beef up its regional presence.

“I believe we should increase the number of gas stations in the region in boost our competitiveness.”  Obajtek said. “We’re developing, that’s why our appetite for further acquisitions isn’t getting smaller. The company of this size can’t afford to stand still and we’re analyzing various options at home and abroad.”

—With assistance from Petra Sorge.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Financial Post – https://financialpost.com/pmn/business-pmn/polands-orlen-lays-out-red-lines-for-buying-stake-in-german-schwedt-refinery

Tags: businessOrlenPoland’s
Previous Post

Chinese Cookie Tycoon Gains $1.2 Billion in Taking Firm Private

Next Post

Caledonia declares quarterly dividend

If you haven’t done these 8 things by 40, you’re already ‘behind’ (but here’s why that’s okay) – VegOut

If you haven’t done these 8 things by 40, you’re already ‘behind’ (but here’s why that’s okay) – VegOut

August 14, 2025

Technology Sector Fuels Nearly 40% of Office Leasing Amid Rapid Expansion of Global Enterprises in India

August 14, 2025
Porter Jr.: Betting impact ‘going to get worse’ – ESPN

Porter Jr. Issues Stark Warning: The Betting Impact Is Set to Intensify

August 14, 2025
‘We caught lightning in a bottle’: Braintree baseball is riding high into the Little League World Series – Boston.com

Braintree Baseball Strikes Gold, Charging Confidently Toward the Little League World Series

August 14, 2025
Analysis Shows Wealthy Americans Are Propping Up the Economy – The Daily Beast

How Affluent Americans Are Driving the Economy’s Momentum

August 14, 2025
Georgia Tech Launches Arts, Entertainment, and Creative Technologies Degree – Georgia Tech News Center

Georgia Tech Unveils Exciting New Degree in Arts, Entertainment, and Creative Technologies

August 14, 2025
nCino, C3.ai, Five9, Health Catalyst, and RingCentral Shares Are Soaring, What You Need To Know – Yahoo Finance

NCino, C3.ai, Five9, Health Catalyst, and RingCentral Stocks Are Skyrocketing – Here’s What You Need to Know

August 14, 2025
Comparative single-cell analyses reveal evolutionary repurposing of a conserved gene programme in bat wing development – Nature

Unveiling the Hidden Genetic Blueprint Behind the Evolution of Bat Wings Through Single-Cell Analysis

August 13, 2025
Opinion | Katharine Suding: 476 acres of possibility near Boulder for science, sustainability and the arts – The Boulder Reporting Lab

476 Acres of Possibility Near Boulder: A Bold Vision for Science, Sustainability, and the Arts

August 13, 2025
Interstellar Object 3I/ATLAS Seen in Stunning New Hubble Image – ScienceAlert

Stunning New Hubble Image Reveals Mysterious Interstellar Object 3I/ATLAS

August 13, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (769)
  • Economy (792)
  • Entertainment (21,669)
  • General (16,453)
  • Health (9,831)
  • Lifestyle (803)
  • News (22,149)
  • People (793)
  • Politics (800)
  • Science (16,005)
  • Sports (21,290)
  • Technology (15,771)
  • World (775)

Recent News

If you haven’t done these 8 things by 40, you’re already ‘behind’ (but here’s why that’s okay) – VegOut

If you haven’t done these 8 things by 40, you’re already ‘behind’ (but here’s why that’s okay) – VegOut

August 14, 2025

Technology Sector Fuels Nearly 40% of Office Leasing Amid Rapid Expansion of Global Enterprises in India

August 14, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version