“ORLEN’s prominent position among Europe’s largest companies showcases the fresh business prospects that have emerged from our mergers with Energa, LOTOS, and PGNiG. As a robust multi-utility group, bolstered by sustainable financing sources and a stable financial structure, we have cemented our role as a significant international player. This status endows us with improved leverage in contract negotiations with major trading partners on the market. Through the diversification of our product and service portfolio, the ORLEN Group is enhancing its competitive edge and the capacity to invest in projects that contribute to the energy security of Poland and its region,” says Daniel Obajtek, CEO and President of the Management Board of ORLEN.
With revenue amounting to USD 62.3 billion for 2022, ORLEN is the highest-ranked Polish Company on the Fortune list. The Company’s operations span nine home markets, including Poland, the Czech Republic, Germany, Lithuania, Slovakia, Hungary, Canada, Norway, and Pakistan, with plans to expand into Austria. The ORLEN Group’s products and services reach over 100 countries across six continents.
The Company boasts modern, integrated assets that can process over 45 million tonnes of various crude grades annually. It maintains the largest retail network of over 3,150 service stations in Central and Eastern Europe. ORLEN is also a major force in the Polish electricity market, with a total capacity of 5.1 GW, which includes 1.7 GW in modern gas-fired sources and 0.8 GW in renewable energy sources (RES). In the upstream segment, the Group holds its own oil and gas (2P) reserves, which, at the end of 2022, stood at almost 1.3 billion barrels of oil equivalent (boe).
ORLEN is a trailblazer in the oil and energy sector within the region, aiming for complete carbon neutrality by 2050. Key to achieving this ambition are targeted investment projects. In 2022, a record PLN 19.6 billion was earmarked for the largest investment programme in the Company’s history. This figure is anticipated to reach as much as PLN 36 billion this year.
As per its updated strategy, the Group plans to invest over PLN 320 billion by the decade’s end, with approximately PLN 120 billion (circa 40%) devoted to green initiatives. These include investments in offshore and onshore wind farms, photovoltaics, biogas and biomethane, biofuels, e-mobility, and green hydrogen, in addition to advancing modern petrochemicals and secure nuclear energy.
Fortune magazine is one of the world’s most influential business publications, revered for its profound analyses. Fortune has been compiling rankings of the largest companies for nearly seven decades. Since 1995, its Global 500 ranking has featured firms from across the globe. In the latest edition, ORLEN rose to the 216th position, a significant leap of 208 places from the previous year, positioning it among the five most rapidly ascending companies in the ranking. Furthermore, ORLEN has the distinction of being the sole Polish Company to make it onto the list.