ORLEN Lietuva has gained profit for the first quarter of 2021. Positive financial results have been achieved by optimizing production and sales volumes, taking into account the significantly reduced demand of petroleum products in the market. In the first three months of this year, ORLEN Lietuva Group achieved positive results and earned USD 23.6 million net profit. It also recorded positive EBITDA LIFO: USD 17.9 million EBITDA LIFO in Q1 2021.

 

 ‘We are happy to celebrate the 41st birthday of our Refinery with positive results of the first quarter of this year. At the same time, we understand that in order to maintain competitive advantage in crude oil refining business transformation is required. And we are ready for it‘, said Michal Rudnicki, General Director of ORLEN Lietuva. The main challenge, which we face not only, now is agility to adapt to changing business environment. ORLEN strategy in the nearest decade will focus on reduction of CO2 emissions from power generation as well as production of higher-margin petroleum products. We are driven by our ambitious environmental goals and further investments into energy efficiency.’

 

Since 2006, PKN ORLEN has spent nearly USD 4 billion 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. 

PKN ORLEN is a modern player on the fuel and power market and the largest company in Central and Eastern Europe. It was listed among the prestigious Fortune Global 500.

 

ORLEN Lietuva inf.