Capex projects and acquisitions in the pipeline require large financial outlays. In 2021, ORLEN Group’s capital expenditure reached PLN 9,890m, up PLN 898m (10.0%) on the 2020 amount of the capex. Over 30% of the capital expenditure was spent in the Petrochemicals segment, 24% in the Refining segment, 26% in the Power Generation segment, 12% in the Retail segment, and 4% in the Upstream segment. Information on the largest capex projects completed in 2021 is available in the ‘Delivery of investment plans’ section.
By 2030, the Group plans to spend a total of PLN 140bn on capex projects. Most of the capital expenditure will be allocated to segments that fit in with the ORLEN Group strategic growth ambitions specified in the ORLEN 2030 Strategy. Around PLN 85bn will be allocated to new prospective growth areas, related mainly to renewable energy and advanced petrochemicals, while PLN 55bn will be spent to enhance the efficiency of the Group’s existing assets.
Following the merger, the scale of capital expenditure on the development of individual business segments formed by PKN ORLEN, Grupa LOTOS and PGNiG will increase. This will translate into tangible benefits for employees, who will gain new career opportunities not currently available to them. For example, Gdańsk is planned to be the location of competence centres for railroad logistics, oils, hydrogen technologies and marine fuels.
The combined company will seek to achieve operational excellence in the existing business areas such as upstream and refining. Integration of the assets currently owned by different entities swill bring about efficiency improvements, while strategic partnerships in this area will contribute to enhanced energy security of Poland and Central Europe, a thing of utmost importance in the current geopolitical situation.
A strong group of companies will be able to step up its engagement in dzsocial, cultural and sports initiatives in the regions where it operates. Its coordinated CSR and sponsorship policy will deliver greater and more thorough support for local communities. This also means reinforcement of social capital.
By investing in zero- and low-carbon energy sources, we reduce our environmental footprint, which, in addition to boosting natural capital, provides a response to changes in the EU legal environment.