Polski Koncern Naftowy ORLEN has officially changed its name to ORLEN SA.
The name “better reflects the company’s current business profile and future development plans,” following acquisitions of ENERGA Group, Grupa LOTOS, and PGNiG, the company said in a release following registration with the National Court Register July 3.
The future development trajectory “includes expansion into offshore wind energy, nuclear power, hydrogen and synthetic fuel production, and green petrochemicals,” said Daniel Obajtek, president of the ORLEN management board. Further, he said, because “as much as 70% of the ORLEN Group’s value in the first quarter of this year was generated from non-oil refining segments,” renaming the company was a logical step.
By the close of the decade, ORLEN aims to own renewable energy sources totaling 9 Gw in capacity, install 10,000 EV charging stations across Central Europe, and achieve 300 Mw of installed capacity in small modular reactors. Production targets for this period include 3 million tonnes of biofuels, 1 billion cu m of biogas, 130,000 tonnes of renewable hydrogen, and 70,000 tonnes of synthetic fuels.
By 2030, the ORLEN Group intends to reduce greenhouse gas emissions by 25% in its refining, petrochemical, and upstream segments. In the power segment, it aims to reduce CO2 emissions per unit of energy produced by up to 40%. By 2035, the group plans to discontinue all coal-fired power generation.