Despite the highly competitive environment on the global fuel market, the Company has successfully increased the volume of sales. Inland sales were on average by 20 percent higher, with the seaborne sales higher by 37 percent. In comparison to October-December 2020, the volume of products sold in Lithuania increased by 14 percent, whereas the volume of sales to CIS and Latvia were, accordingly, higher by 13 and 6 percent.

 

‘The turmoil caused by COVID-19 in 2020 has become a major challenge for the global oil refining industry. ORLEN Lietuva, as the only crude oil refinery in the Baltic States, was no exception. We had to refocus our business in response to the changes in fuel market demands by continuously adjusting our production volumes and, at the same time, being proactive in seeking solutions to increase our resilience to market fluctuations’, said AB ORLEN Lietuva General Director Michal Rudnicki. ‘Mobilization and commitment of the entire team have produced the rewarding results almost 2 years after the first confrontation with the pandemics. ORLEN Lietuva remained profitable in 2021, whereas the refining capacity in Q4 of the last year was close to its maximum. The year ended by the agreement with our main contractors for building a new process facility in Mažeikiai Refinery. The project will become one of the largest-ever investment of Polish capital in Lithuania’.

 

Since 2006, PKN ORLEN has spent nearly 4 billion US dollars on the acquisition and further investments in the refinery of Mažeikiai. ORLEN Lietuva has recently become a member of an integrated petrochemical chain of PKN ORLEN.