“I’m at a refinery that has built a reputation for excellence, and I would like to know the key to your success,” said Maroš Šefčovič, Vice-President of the European Commission for Energy Union, during his visit at Grupa LOTOS on October 1st.

The LOTOS Group and Germany’s Linde AG, Engineering Division, have signed an agreement to build an Oxygen Generation Unit. The output oxygen will be used to increase the efficiency of desulphurisation of the components of fuels to be produced under the EFRA Project.

In August 2015, LOTOS reported a model refining margin of USD 8.51 per barrel, up by 25.3% on July 2015 and 23.8% on August 2014.

In Q2 2015, LOTOS generated EBITDA (operating profit before depreciation and amortisation) of PLN 755m (up 69.5% quarter on quarter), with operating profit (EBIT) at PLN 569m (up 112.5% quarter on quarter) and net profit of ca. PLN 479m (down PLN 101.4m on Q1 2015 and PLN 122.5m on Q2 2014). In the past quarter, the Company’s revenue was nearly PLN 6,642m, having grown by more than 29% quarter on quarter.

As a consortium leader, LOTOS is launching the HESTOR research project, co-financed by the National Centre for Research and Development. The project is designed to examine the efficiency of storing hydrogen obtained from surplus energy from renewable sources. Hydrogen obtained in this way could be stored in salt caverns and used in technological processes at the Company’s refinery in Gdańsk and for electricity generation.

As part of the ‘Efficiency and Growth’ programme, the Management Board of Grupa LOTOS S.A. has made a decision to float LOTOS Kolej on the Warsaw Stock Exchange.

Grupa LOTOS S.A. has embarked on its new project to expand the refinery’s deep conversion capacities (the EFRA Programme). Under the programme, LOTOS Asfalt, a company of the LOTOS Group, executed an agreement with KT - Kinetics Technology S.p.A. (KT) for the engineering, procurement of equipment and materials, construction and hand-over of three key units of the project. The value of the contract with KT is PLN 1.26bn.

LOTOS Asfalt is the only company on the Polish market to sell its bitumen products through a dedicated mobile application.

Over one hundred orders for LOTOS Asfalt bitumens have been placed via smartphones so far. The mSprzedaż application is available for mobile Android devices, but the company plans to roll it out to devices using other operating systems as well.

In June 2015, LOTOS reported a model refining margin of USD 8.73 per barrel, a 16.5% increase from May 2015 and almost double the figure posted in June 2014.

LOTOS Asfalt, a LOTOS Group company, and a syndicate of eight financial institutions have signed credit facility agreements to finance the construction of an advanced Delayed Coking Unit (DCU) with auxiliary installations on the premises of the refinery in Gdańsk (the “EFRA Project”).

On June 30th 2015, the Annual General Meeting, resumed after adjournment, removed Ms Magdalena Bohusz-Boguszewska from the Grupa LOTOS S.A. Supervisory Board of the ninth joint term of office, and appointed in her place Ms Katarzyna Iskra as Member of the Supervisory Board.

The Supervisory Board of Grupa LOTOS S.A. reappointed all the existing Members of the Management Board for another, ninth joint term of office.  The eighth term of office of the Management Board expires on June 28th 2015, and the ninth term of office starts on June 29th 2015.