The merger paves the way for the release of synergies resulting from the exploitation of the two companies’ potential. The direct effect of the merger between PKN ORLEN and LOTOS Group will be an increase in investment projects, an acceleration in the implementation of the most profitable investments, greater energy independence for Poland and stable fuel supplies for all customers, said the PKN ORLEN press office.

“Today we have merged PKN ORLEN and LOTOS Group. This is the finale of a transaction that many thought and talked about, no one started, and we managed to successfully carry it out. We are not resting on our laurels. We are already working to translate the identified synergies into concrete benefits for the companies, their shareholders and customers as soon as possible”, said Daniel Obajtek, President of the PKN ORLEN Management Board.

He stressed that for the past four years ORLEN has been investing in and strengthening the areas that will generate profits in the future.

The merger of ORLEN and LOTOS is the first step in building a multi-energy conglomerate. The next company to become part of it is Polskie Górnictwo Naftowe i Gazownictwo.

“As a result, we will significantly increase the resilience of the new group in a difficult and extremely volatile environment. And this will make it possible to provide Poland and the Polish people with stable and reliable sources of energy, both in transport and in industry,” explained the PKN ORLEN CEO.

The Płock-based company convinces that, as a result of the merger, the scale of capital expenditure on the development of individual business segments, which will form a multi-energy conglomerate, will increase.

In 2021. ORLEN Group earmarked a record PLN 9.9 billion for investments, while capital expenditure for this year will amount to as much as PLN 15.2 billion, the highest in the company’s history. This is expected to translate into an increase in the revenue paid by the company to the state budget. In 2021. PKN ORLEN paid almost PLN 35.5 billion to the budget in various fees and taxes. The total from 2018 to 2021 was approximately PLN 143 billion.

Adrian Andrzejewski