Saudi Aramco's deal with PKN will expand its crude imports into Poland and presence in European downstream
PKN springs surprise among divestment buyers
The Polish refiner strikes deals to meet conditions of its Grupa Lotos takeover, including with a non-regional player
Poland’s PKN Orlen has named four buyers for a range of assets that the European Commission demanded it divest as a condition of its takeover of smaller domestic refining rival Grupa Lotos. Three of the buyers are relatively unsurprising: LPG firm Unimot, from Poland, and integrated oil and gas firm Mol and biofuels specialist Rossi, both from fellow Visegrad Group country Hungary. But the identity of the fourth purchaser has raised eyebrows. Saudi Aramco will pay PLN1.15bn ($287.5mn) for a 30pc share in Lotos’ 210,000bl/d Gdansk refinery and its bitumen business, as well as 100pc of a downstream business associated with the refinery. The Saudi heavyweight will also take over Lotos’ 50pc sta
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
