By: ICN Bureau
Last updated : April 21, 2025 8:31 am
In the Refining and Petrochemical segments, the Group maintained stable crude throughput levels while continuing to pursue a diversified supply portfolio
In 2024, the ORLEN Group delivered record operational performance, marked by the highest levels of electricity generation from gas and renewable sources in its history, alongside its strongest natural gas production to date.
The volume of low- and zero-emission energy generated during the year would have been sufficient to meet the annual demand of nearly half of all Polish households. This performance was supported by a more than 66% year-on-year increase in installed capacity across photovoltaic and wind assets, as well as the commencement of production from newly developed gas fields on the Norwegian Continental Shelf.
The Energy and Gas segments together accounted for nearly 80% of the Group’s EBITDA, which totalled PLN 35.5 billion before impairment charges. The Management Board has recommended a record dividend of PLN 6 per share for the 2024 financial year.
“While last year’s performance was partly impacted by impairment charges arising from legacy management missteps, we are continuing to drive ORLEN’s strategic transformation and invest in its future. We are strengthening energy security through a generation mix anchored in gas and complemented by renewables. In 2025, we will stay on this course, with the largest share of capital expenditure directed toward upstream and energy assets. This will support further growth in our own gas reserves and production. From next year, customers will begin receiving electricity from two new gas-fired power plants and Poland’s first offshore wind farm — a flagship investment and the largest source of renewable energy in Central Europe — said Ireneusz Fąfara, CEO and President of the Management Board of ORLEN.
In the Refining and Petrochemical segments, the Group maintained stable crude throughput levels while continuing to pursue a diversified supply portfolio. In 2024, ORLEN entered into a new supply contract with bp for crude oil sourced from the geographically proximate North Sea, securing approximately 15% of the Group’s total crude requirements. A strategic decision was also taken to discontinue the commercially non-viable Olefins III project, with elements of the existing infrastructure to be repurposed under the New Chemicals programme — based on revised technological, operational and commercial assumptions.