ORLEN Lietuva is a subsidiary of PKN ORLEN of strategic importance for the entire region. It needs to continue to grow, to leverage its full potential.
PKN ORLEN plans to upgrade the Lithuanian refinery. The investment will boost the plant’s capacity and ensure its efficient operation even in the volatile macroeconomic environment. The Group has already taken steps to further deepen crude processing (increase conversion) at the Mazeikiai Refinery. Following a period of analyses, a contract was concluded with the selected provider of the licence and front-end engineering design for a hydrocracking facility to process vacuum residue at the Lithuanian plant. Deeper conversion is a key factor needed to increase the fuel yield from processed crude.
The cooperation between PKN ORLEN and Lithuanian Railways plays a major role in the context of ORLEN Lietuva’s further development. On 14 August 2018, the heads of both companies, Daniel Obajtek and Mantas Bartuska, signed an agreement on extending the cooperation. It was followed by the symbolic opening of the reconstruction of tracks on the ORLEN Lietuva – Renge line.
In accordance with the cooperation agreement signed in Mazeikiai, ORLEN Lietuva, a Lithuanian company of the ORLEN Group, declared its continued use of the Lithuanian Railways. The parties committed to extend their cooperation to cover freight transport towards the Polish border. ORLEN Lietuva will be shipping several thousand tonnes of product a year on this route. This will enhance the operational flexibility of the ORLEN Group and improve the fuel security of both the Baltic countries and Poland.
Investment of the Century in Lithuania
ORLEN Lietuva received the “Investment of the Century” award during the Polish-Lithuanian Economic Forum organised under the auspices of the Polish President and the Prime Minister of Lithuania. The award was handed over by the Lithuanian Prime Minister Saulius Skvernelis, who said: “We greatly appreciate ORLEN’s contribution and role in the process of upgrading the refinery in Mažeikiai, where the Group purchased a controlling stake in 2006. It was a fundamental, strategic partnership confirming the Polish government’s support for Lithuania and the energy security of the entire region. The success of AB ORLEN Lietuva is of strategic importance for Lithuania. We are happy that ORLEN Lietuva plans to continue its investment projects in Lithuania”.
ORLEN Lietuva is the largest company, exporter and taxpayer in Lithuania. Since 2006, PKN ORLEN has spent nearly USD 4 billion on the purchase of the refinery in Mažeikiai and further investments in the facility.