ORLEN Group consolidated results for Q2 2024

Despite mounting macroeconomic pressures, the ORLEN Group closed the second quarter of 2024 posting LIFO-based EBITDA, adjusted for the effects of regulations, of PLN 11.3 billion, up by 8% y/y. The Group’s performance was supported by the energy segment as well as being driven by improved volumes in the upstream segment, which helped offset the impact of macroeconomic headwinds. In the first half of this year, the ORLEN Group allocated PLN 14 billion to investments supporting the energy transition and bolstering Poland’s energy security.

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ORLEN and bp sign oil supply contract

ORLEN has signed a contract with bp for the supply of 6 million tonnes of crude oil from Norwegian fields in the North Sea over twelve months. This will cover about 15 per cent of the annual demand of the entire ORLEN Group for this feedstock.

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ORLEN secures EU grant for hydrogen projects

The international HySPARK project, led by ORLEN in collaboration with a consortium of 17 global partners, has become the first in Poland to receive funding from the EU Clean Hydrogen Partnership programme. Close to EUR 9 million will be allocated to the production and testing of hydrogen-powered vehicles for Chopin Airport and Warsaw’s public transportation system.

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ORLEN Group to boost its renewable generation capacity by nearly one-third

ORLEN Wind 3, a subsidiary of the ORLEN Group, has entered into a preliminary agreement with EDP Renewables Polska to acquire two solar PV farms with a combined capacity of 280 MWp located in the Provinces of Zielona Góra and Poznań, along with a 26 MW wind farm in the Province of Łódź. Valued at approximately PLN 1.15 billion, the transaction stands out as one the largest deals in terms of installed capacity made in recent years within the Polish renewable energy sector. Upon completion, this acquisition will elevate the ORLEN Group’s renewable generation capacity by nearly 30%. Acquired farms are among the most advanced in the country, collectively generating around 400 GWh of electricity annually, sufficient to power nearly 182 thousand households.

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Manufacture of key components for Baltic Power wind farm based locally in Pomerania

In preparation for the offshore installation works scheduled for the end of this year, some critical components of the Baltic Power project are currently under production. Key infrastructure, including substations for evacuating power from the offshore turbines and transmitting it to the mainland, is being constructed in the seaside region of Pomerania. Other important project components are also being manufactured in Szczecin, Kluczbork, and Żary, among other locations.

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ORLEN VC invests to enhance reliability of power supply to consumers

The ORLEN VC Fund has invested in Norway’s Heimdall Power, a global leader in providing solutions for optimised power grid operations. By directly monitoring the operating parameters of power lines, the company enables the assessment of the current line load and the detection of events such as failure, icing, fire, or high vibration levels. Data from sensors are also used to model the state of the network or plan the development of transmission infrastructure. Based on the technology developed by ORLEN VC’s new partner, the power grid capacity can be boosted by up to 40%, enhancing the security of power supply to consumers.

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ORLEN Group to supply gas to Slovakia

ORLEN, through its subsidiary PGNiG Supply & Trading, has signed a contract with a Slovak company ZSE Group for the sale of gas, the volume of which will cover approximately 30% of ZSE’s demand during the year. The contract exemplifies increasing cooperation among CEE companies to diversify supply sources and enhance gas security within the region.

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Second edition of ORLEN Hydrogen Academy concluded

The second edition of the ORLEN Hydrogen Academy has just been concluded, marking another milestone in the advancement of hydrogen technology education. This year’s programme encompassed over 100 hours of lectures, hands-on workshops, and laboratory sessions, engaging numerous experts and featuring multiple study visits to industry operators. It attracted a group of 30 university graduates from across Poland, each aspiring to deepen their expertise in advanced hydrogen technologies. Standout participants have been offered paid internships with ORLEN and the programme’s partners.

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ORLEN’s hydrogen refuelling station opened in Poznań

ORLEN has inaugurated its first public 24-hour hydrogen refuelling station in Poznań, capable of serving cars, trucks and buses. The new station is a component of the Clean Cities project, co-financed by the EU under the CEF instrument and the national Green Public Transport programme. It will support a fleet of 25 city buses operated by the municipal transport company MPK Poznań, under a 15-year contract whereby ORLEN has committed to delivering 1.8 million kilograms of hydrogen fuel.

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