ORLEN Group – Key events in 2014

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    JANUARY

    • PKN ORLEN repurchases a pool of mandatory crude stocks from Whirlwind.
    • PKN ORLEN takes over trade operations from PETROLOT and begins to sell JET A-1 and AVGAS 100LL fuels directly to air carriers.
    • ORLEN Upstream finishes drilling the Stoczek-OU1 well in Kisielsk, the ninth exploration and appraisal well drilled by the company.
    • PKN ORLEN launches a unique product − MIKROFLOTA fuel card, targeted at micro firms, small-sized businesses and sole traders.
    • PKN ORLEN is the first on the market to offer cashless mobile parking payments to its customers participating in the FLOTA Programme.
    • PKN ORLEN opens two Motorway Service Areas (Wieszowa Północ and Wieszowa Południe) on the A1 motorway in the Province of Katowice. 
    • ORLEN Paliwa launches the implementation of the BAQ Fuels Programme, a new customer loyalty and quality scheme, which is a system for the monitoring of the quality of fuels based on periodic and unannounced inspections at the participating service stations. 

    FEBRUARY

    • PKN ORLEN signs purchase agreements for natural gas with six suppliers: ENOI SpA, RWE Supply & Trading GmbH, VITOL SA, Vattenfall Energy Trading GmbH, Mercuria Energy Trading SA and PGNiG Sales & Trading GmbH, with the total value in excess of PLN 1.7bn.
    • PKN ORLEN becomes a member of the Polish Power Exchange, gaining direct access to wholesale trading and improving its ability to leverage the potential in a deregulated Polish gas market.
    • ORLEN Upstream spuds the third horizontal well in Kisielsk in the Stoczek Łukowski municipality (Stoczek-OU1K).

    MARCH

    • The PKN ORLEN Supervisory Board re-appoints the Company’s Management Board, led by Jacek Krawiec since 2008, for another three-year term of office. The other members of the Management Board of the new term are Sławomir Jędrzejczyk – Vice-President of the Management Board, Chief Financial Officer, Piotr Chełmiński – Member of the Management Board, Petrochemical Operations, Krystian Pater – Member of the Management Board, Refinery Operations, and Marek Podstawa – Member of the Management Board, Sales.
    • PKN ORLEN signs an amendment to a long-term contract with Rosneft Oil Company for the supply of crude oil to the Czech Republic, securing uninterrupted operation of the Litvinov refinery.
    • ORLEN Upstream completes drilling work on the tenth well as part of its unconventional oil and gas exploration programme carried out in Poland.

    APRIL

    • PKN ORLEN launches the sale of PLN 200m worth of Series E bonds (fifth series) (with a floating interest rate based on 6M WIBOR plus bank margin of 1.3%), and PLN 100m worth of Series F bonds (sixth series) (with a higher, fixed rate of return of 5% and longer maturity) under its bond programme addressed to retail investors. A measure of the success of the retail bond programme is the fact that PKN ORLEN sold 10,000,000 bonds at a nominal price of PLN 100 per bond. 
    • In the first quarter of 2014, the ORLEN Group reports record-high retail sales. For the first time in its history, the Company produces hydrocarbons from its own sources at 330 thousand boe.
    • PKN ORLEN signs a EUR 2bn credit facility agreement with a syndicate of 17 banks.

    MAY

    • The ORLEN Group finalises the sale of its medical services subsidiaries − ORLEN Medica, Sanatorium Uzdrowiskowe Krystynka in Ciechocinek, and PROF-MED (owned by ANWIL) are sold to the PZU Group. 
    • The General Meeting of PKN ORLEN increases the number of Supervisory Board members from seven to nine. The Supervisory Board members are Angelina Sarota, Adam Ambrozik, Maciej Bałtowski, Cezary Banasiński, Grzegorz Borowiec, Artur Gabor, Radosław Kwaśnicki, Cezary Możeński, and Leszek Pawłowicz.
    • PKN ORLEN rolls out its MIKROFLOTA fuel card scheme outside Poland. The cards are accepted at more than 2,500 service stations in Poland, Germany, Czech Republic and Lithuania.

    JUNE

    • Operating through its subsidiary TriOil Resources Ltd., PKN ORLEN seals a deal to acquire a Canadian-based oil producer, Birchill Exploration LP for a total price of CAD 255.6m (ca. PLN 707.5m). With the acquisition, the Group’s 2P reserves rise to 48 million boe.
    • PKN ORLEN sells and outsources the maintenance of its mandatory crude oil stocks under an agreement with Cranbell, which is the largest transaction of this type in the Company’s history.
    • Through its subsidiary ORLEN Capital AB, PKN ORLEN issues EUR 500m worth of eurobonds, paying interest of 2.5% annually.
    • A new ORLEN Asfalt rail terminal opens in Floreşti, Romania.
    • The ANWIL for Włocławek Foundation launches its operations.

    JULY

    • Unipetrol accepts an offer from ENI of Italy to acquire a 32.445% interest in Česká Rafinérská worth EUR 30m
    • PKN ORLEN announces its strategy for 2014−2017
    • Environmental protection assets are consolidated within the ORLEN Group − ORLEN Eko acquires a 100% interest in Chemeko, previously a member of the ANWIL Group, from ANWIL and Przedsiębiorstwo Inwestycyjno-Remontowe RemWil.

    AUGUST

    • ORLEN Upstream commences its third hydraulic fracturing treatment on the lateral of the Stoczek-OU1K well.
    • PKN ORLEN signs a contract for a licence and front-end engineering design for its Metathesis Unit. The project is intended to increase annual propylene output at the Płock plant to 550,000 tonnes

    SEPTEMBER

    • A new ‘Parcel Station’ service is launched at selected ORLEN service stations, enabling customers not only to collect but also post parcels on a 24/7 basis. The ‘Parcel Station’ service is available at 800 service stations in Poland.
    • PKN ORLEN expands its Flota card programme, and thanks to its partnership with the Motointegrator automotive service network its cashless payments become available in 500 auto service locations.
    • ORLEN Upstream spuds a horizontal well in the Wierzbica licence area in Nowy Stręczyn, the Cyców municipality, in the Province of Lublin. It is the 11th exploration well drilled in search of unconventional hydrocarbons in Poland. 

    OCTOBER

    • PKN ORLEN signs framework agreements with the Warsaw University of Technology and the AGH University of Science and Technology of Kraków on joint research & development projects intended to develop various innovative solutions and to improve efficiency, safety and environmental performance.
    • A year-long pilot programme with TESCO is launched to test a new format of convenience stores at 10 ORLEN service stations.
    • Opening of the Corporate Service Centre of the Płock Industry and Technology Park.

    NOVEMBER

    • PKN ORLEN obtains approval from its Supervisory Board to go ahead with the project to construct a 600 MWe CCGT unit in Płock. The unit is scheduled to come on stream in late 2017. 
    • PKN ORLEN joins the ‘Poland’s Economic Security’ consortium of scientific institutions and industrial partners, established for the purpose of building a platform of cooperation between science and business. 
    • PKN ORLEN and the Eurocash Group launch a pilot programme to test a new retail store concept under the Delikatesy Centrum brand, offering a full selection of grocery products, including a broad range of fresh foods.
    • The construction of a section of a ring road bypassing the town of Skawina is completed, in which the contractor, Mota-Engil Central Europe S.A., used next generation long-lasting ORBITON HiMA bitumens supplied by ORLEN Asfalt. 
    • ORLEN Oil, a leading lubricant manufacturer, adds two new products to its Platinum Ultor line, targeted at truck operators.

    DECEMBER

    • PKN ORLEN and the Office of Technical Inspection sign an agreement to collaborate in improving the technical safety of PKN ORLEN’s production units.
    • The Czech Antitrust Authority clears Unipetrol’s acquisition of shares in Česka Rafinerska from ENI of Italy.
    • PKN ORLEN signs a contract with a consortium of Siemens AG and Siemens for the turn-key delivery of a CCGT unit in Płock and a comprehensive O&M contract for the unit’s key equipment, covering a period of approximately twelve years. 
    • The Extraordinary General Meetings of Rafineria Trzebinia S.A. and Rafineria Nafty Jedlicze S.A. resolve to merge the two companies into ORLEN Południe.