PKN Orlen, Poland’s largest oil refiner and fuel retailer, is reportedly in the midst of discussions with Saudi Arabia regarding a substantial investment project. This potential collaboration marks a significant opportunity for Orlen to expand its reach and capabilities. The negotiations are seen as a strategic move to solidify Orlen’s presence in the growing energy market and strengthen ties with one of the world’s leading oil producers.
However, the outcome of these discussions will heavily depend on the direction set by Orlen’s new CEO. The leadership transition presents an opportunity to align the company’s strategies with emerging global energy trends, and the decision on whether to proceed with the Saudi investment will likely reflect the new CEO’s vision for Orlen’s future.
„There are ongoing discussions about the development of the petrochemical industry. This is about growing the value chain in Gdańsk. Hectares of land have been bought there. The talks are moving in the right direction,” said Orlen President Daniel Objatek. „2024 is decision time,” he added.
„I wanted to finish three businesses that I had already started. I wanted to make the final decision and work with the Saudis. I don’t want to say too much,” Daniel Obajtek admitted.
Saudi Aramco was a partner in the merger of Orlen and Lotos, receiving 30 percent of the shares in the Gdańsk refinery. This transaction was linked to a new agreement for the supply of Saudi oil and negotiations for the construction of a petrochemical complex in Gdańsk.
The Supervisory Board of Orlen decided to dismiss Daniel Obajtek from the post of CEO with effect from February 5, 2024.
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