What goes on in Poland on the 2nd of April.
Polish Briefing: Warsaw is a city of digital transformation
What goes on in Poland on the 28th of March.
Nord Stream 2 delay caused by Poland? „It can take years all together”
BiznesAlert.pl reached to a letter of the Nord Stream 2 AG management board responsible for the controversial project under the same name that indicates that Denmark can delay issuing an agreement on it, asking Poland for an opinion.
PGNiG will lease a drilling platform in the Norwegian Sea
PGNiG Upstream Norway and Aker BP have signed a contract for the lease of a semi-submersible drilling rig. In autumn, the exploration well will start to be drilled on the Shrek prospectus within PL838 license. For the PGNiG Group, it will be the first drill well in the role of an operator on the Norwegian Continental Shelf.
Ukraine invites to gas storage. The West is waiting
Ukraine invites to its gas storage. Western investors are waiting for developments, including Poles – writes Wojciech Jakóbik, editor-in-chief of BiznesAlert.pl.
Polish Briefing: Poland still has some time for the RES goal
What goes on in Poland on the 27th of March.
Polish Briefing: „PiS gives Russian coal to Poles. PO will take it away from their homes”
What goes on in Poland on the 26th of March.
Polish Briefing: Energy storage will help PGE harness renewable energy
What goes on in Poland on the 25th of March.
U.S. Foothold – Russian stance towards crisis in Venezuela
There are two reasons why Venezuela’s controversial leader is not yet fighting a losing battle against the country’s opposition. First, Venezuela’s military has pledged its loyalty to the leader since the beginning of the crisis while other military branches declared to stand by the president. Secondly, the government in Caracas is in the hopes for getting support from the world’s top players–with Russia at the forefront–because Moscow’s assistance is essential to back the country’s armed forces.
Lotos delivers strong profit for 2018
The financial performance of the LOTOS Group in 2018 confirms its robust condition. The Group delivered a consolidated net profit of PLN 1.6bn and adjusted LIFO-based EBITDA of PLN 3.1bn, the highest figure on record. Revenue came in at PLN 30.1bn, up 24.5% on 2017, and CAPEX spending was PLN 1bn. The refinery processed the largest amount of crude oil in its history – 10.8 million tonnes. At the end of 2018, the LOTOS share price on the Warsaw Stock Exchange came close to PLN 90 per share. For the second year in a row, the Company paid dividend.
At the end of 2018, LOTOS’s net debt fell to PLN 1.9bn, by almost 25%. The ratio of net debt to adjusted LIFO-based EBITDA was 0.6x, compared with 0.8x in 2017.