Foundation (1999–2001) PKN Orlen was created in 1999 after the
Council of Ministers of Poland in the previous year decided to partially privatise and merge two state-run petrochemical firms:
Centrala Produktów Naftowych (CPN),
Communist Poland's petroleum retail monopoly, and
Petrochemia Płock, the state firm in charge of the
oil refineries in Płock, the largest complex of its kind in Poland. After said merger, the company was renamed Polski Koncern Naftowy (PKN), with Orlen added several months later as the consortium's brand name.
Ethymology and logo Orlen SA brand name is derived from
orl- for "
orzeł" (Polish:
eagle) and its adjective "
orli", and
-en for "energia" (Polish: energy). The eagle head icon – complete with a bill, eye and crest – is also integrated into the company’s logo.
Orlengate scandal (2002) Orlengate is the biggest corruption scandal in the modern political history of
Poland. The scandal was unearthed with the arrest on 7 February 2002 by the
UOP (Office for State Protection) of Andrzej Modrzejewski, then CEO of PKN Orlen. He was accused of insider trading and disclosure of confidential information.
International expansions (2002–2014) semi-trailer tank truck operated by PKN Orlen in
Wolin (September 2009) oil refinery, part of
Orlen Lietuva After losses in 2000 and 2001 the fund returned 25% in 2002. Until July 2003, it grew by nearly one-third since March and in total the fund was up by about 60% since the start of 1994.
Enlargement Zbigniew Wróbel directly succeeded as CEO and proposed in December 2002 $160 million for the purchase of 295 German gas stations from the British BP PLC. It was the first step in Wrobel's strategy of expanding west. At this time PKN Orlen was Poland's largest company, with sales of $7.2 billion. In 2003, PKN Orlen acquired 500 filling stations in
Northern Germany from
BP under premise of a competition law when BP took over
Aral AG. As of 2007 Orlen has 581 filling stations in Germany (484 under the Star brand, 58 under the Orlen brand and 29 under a supermarket brand). In January 2003, PKN Orlen and
MOL signed a
Memorandum of Understanding whereby they agreed intention to initiate co-operation in the Central and Eastern European oil sector. They hoped that the collaboration would allow them both to benefit from the synergies and to compete more effectively in the global competition. In July 2003, the
Croatian INA refinery was sold for $505 million to PKN Orlen's competitor, the Hungarian oil company MOL. This strengthen MOL's position in the battle for control of Central Europeans and Balkan fuel markets. Furthermore, PKN Orlen was involved in merger talks with the MOL Group in 2005. If merged, the two firms would have created a regional giant, and controlled much of Central Europe's oil industry. However, the planned merger failed due to high politicization. Following the dropped merger plans, PKN Orlen bought a majority stake in
Czech Unipetrol. During May 2006, the company announced its largest investment ever when it took over a majority share of 84.3% of the largest company of Lithuania,
Mažeikių Nafta. It was partly bought from
Yukos (53.7%) and partly from the Lithuanian government (30.6%) in December. Earlier on 12 October a fire damaged the
Mažeikių refinery, which caused a loss about $75 million. With the completion of the takeover, PKN Orlen became Central Europe's largest company. In May 2007, after Lithuania sold its refinery to PKN Orlen, the
Russian government approved the construction of a new $2 billion pipeline, that passes
Belarus and Lithuania. In 2007, the unit of Polish oil group PKN Orlen PKNA.WA and Dwory Chemicals bought a synthetic rubber company Kaucuk from Czech oil group
Unipetrol UNPEsp.PR. The sale was part of a drive by Unipetrol to divest non-core assets and to focus on
petrochemical, oil refinery and fuel retailing business. In 2010, PKN Orlen had a reported revenue of $28.8 billion. Next year it was the largest fuel retailer in Poland with over 2000 locations. The company ran the most advanced and the second largest complex for
terephthalic acid production in Europe. PKN Orlen also sponsors the
Orlen Arena in Płock since its opening in 2010. In 2013, PKN Orlen and
Klaipedos Nafta oil terminal negotiated the co-operation on a new pipeline supported by the Lithuanian government. In order to establish the company in
Canada and to become an oil producer Orlen bought the oil and gas company TriOil Resources Ltd for $169 million in September 2013. After its first foreign expansion the company acquired Birchill Exploration Ltd due to double its production in May 2014. PKN Orlen, under a joint venture with the
Dutch-American firm
LyondellBasell, also owns Poland's largest plastics company called Basell Orlen Polyolefins Sp. z o.o.
Diversification (2015–present) in
Bytom (November 2022) In 2019, PKN Orlen opened its first petrol station in
Slovakia through its Czech subsidiary
Unipetrol under the Benzina brand. At the end of 2020, 20 Orlen stations were operating in Slovakia. At the end of 2019, PKN Orlen and
PZU established the "Sigma Bis"
media agency. PKN Orlen has been implementing a development strategy since 2018, which involves transforming the company into a multi-energy and commercial group. In April 2020, Orlen acquired 80% of
Energa shares, and on 14 July 2020 announced that it obtained permission the
European Commission's for the takeover of
Grupa Lotos, first announced in 2018. On 1 August 2022, Orlen finalised the merger with Lotos. In November 2020, PKN Orlen purchased 65% of the shares of the financially troubled
newsagents chain
Ruch SA. On 7 December 2020 Orlen signed an agreement to acquire 100% of shares in the media and press company "
Polska Press sp. z o.o." and the transaction was carried out on 1 March 2021. This decision was met with criticism from
Polish Ombudsman,
Adam Bodnar, who expressed his concern about the risk to freedom of speech that this takeover poses as PKN Orlen is a state-owned company and the constitutional right to
press freedom excludes the possibility of political influence on the press, even an indirect one. In December 2020, PKN Orlen bought an agricultural
biogas plant Bioenergy Project, which it will transform into a
biomethane plant. To secure supplies, the company Biozec, responsible for the sale and distribution of thermal energy supplied by the biogas plant, was also acquired. In 2021, Orlen bought 4 wind farms: in February, the Kanin farm with a capacity of 20 MW, and in March, another three with a total capacity of 89.4 MW. On 14 July 2020, PKN Orlen announced its intention to take over
PGNiG, and on 10 May 2021, it submitted a takeover application to the
Office of Competition and Consumer Protection. In October 2022, shareholders of PGNiG approved the company's takeover by PKN Orlen, this came after PKN Orlen Shareholders had done the same. In 2020, the company announced its plans to become
emission-neutral by 2050 becoming the first oil company from
Central Europe to do so. In order to achieve this goal, by 2030, Orlen aims to reduce emissions from its current refining and petrochemical assets by 20% and emissions from power generation by 33% /MWh. In June 2021, PKN Orlen opened its first
Orlen w ruchu standalone
convenience store in Warsaw, competing in this segment with
Carrefour Express,
Circle K and
Żabka. In September 2021, the company entered the
parcel locker sector with the launch of
Orlen Paczka in co-operation with
Poczta Polska. In December 2022, PKN Orlen entered the Hungarian market with the takeover of 143 petrol stations from Hungary's MOL in a deal related to the acquisition of 410 petrol stations in Poland by MOL under an agreement between Orlen and
Grupa Lotos. The sale was the result of the
European Commission requiring PKN Orlen to divest its assets in order to approve the company's acquisition of Grupa Lotos in accordance with
EU competition law. In March 2023, PKN Orlen began to sponsor the
Stadion im. Kazimierza Górskiego, located opposite the Orlen Arena in Płock. In the same month, Ukrainian oil company
Ukrnafta signed a contract with PKN Orlen to allow the latter to export petrochemical products to Ukraine. On 3 July 2023, the company renamed PKN Orlen to Orlen S.A. to reflect its diversification from fossil fuels. In September 2023, the
European Commission approved the takeover by Orlen Group of the consumer retail division of the Austrian oil trading company , which operates 266 filling stations in Austria under the discount brand. In August 2023, the company's supervisory board conditionally approved an investment in an
off-shore wind farm located on the
Baltic Sea. The joint project between Orlen and
Northland Power is aimed at achieving the company's goal of generating 9 GW of renewable energy capacity by 2030. The Baltic Power farm, located about 23 km off the coast, will consist of 76 wind turbines with a capacity of 15 MW each, providing energy to over 1.5 million households upon completion in 2026. In 2024, Orlen bought a 240-MW wind and solar portfolio from
EDP Renovaveis for $290 million. In December 2023, the Polish government approved the construction of 24 new
small modular reactor (SMR) units in six sites across the country. Orlen Synthos Green Energy (OSGE), a joint venture between Orlen and chemicals company Synthos, plans to deploy Poland's first small reactors by 2030. In August 2025, the first reactor was announced to be built in
Wloclawek with a capacity of 0.6 GW. Orlen will pay a dividend for 2023 in the amount of PLN 4.15 per share. The total value of the dividend is PLN 4,817,909.5 thousand. The dividend yield is 6.82%. The last listing with dividend rights took place on 18 September 2024, and the dividend payment date was set for 20 December 2024 == Sponsorship ==