Alerts Energy pgnig 2 February, 2024 7:35 am   

Orlen in talks about a gigantic investment with the Saudis, but new CEO will decide

Rafineria-Gdańska The Gdańsk Refinery. Picture by Lotos

The successor of Daniel Obajtek as the CEO of Poland’s Orlen will have to decide about the construction of a petro-chemical complex with Saudi Aramco in Gdańsk.

“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.

Wojciech Jakóbik