Home » Business » The President of PKN Orlen announced a strategy until 2030: Refining business will be declining

The President of PKN Orlen announced a strategy until 2030: Refining business will be declining

In the afternoon conversation on Polish Radio 24, the president PKN Orlen Daniel Obajtek stated that the traditional refining business will be in decline, so the entire group must develop activities in other sectors to survive, be competitive and save places work.

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The president of Orlen announced that from next year the company intends to regularly share the generated profit with shareholders. The strategy provides for a dividend payment of at least PLN 3.50 per share. “Today the world is not focused on profit, which may be in 10 years. We want to loyalise our shareholders in two ways. Firstly, because the company grows stronger, builds, connects and develops, but our shareholders also require – here and now – profits in this area “- said Daniel Obajtek.

“This dividend policy aims to show shareholders that investing in Orlen it is not only a matter of the future but also of the present. This decision will have a different impact on capitalization, i.e. strengthening the company in all these investment processes, “added the head of Orlen.

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By 2030, the Orlen Group intends to reach 2.5 gigawatts of installed capacity in renewable sources, of which more than half (1.7 gigawatts) will come from offshore wind farms.

About 50 percent. Orlen’s profits are to be generated by the petrochemical segment, but at the same time increasing the share of specialized petrochemical products, such as phenol and aromatic derivatives. In addition, the concern will further develop the retail sales network, within 10 years it is to operate at least 3.5 thousand fuel stations under the Orlen brand in seven European countries.

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