Today, on December 19th, a new list of companies included in the RESPECT Index, featuring the most socially responsible companies listed on the Warsaw Stock Exchange, has been announced. Grupa LOTOS has been included in this index for the tenth time.
LOTOS reveals strategy for 2017-2022 Stability and sustainable growth in key areas of business combined with strong support for innovation lie at the heart of the company’s strategic plans.
In Q3 2016, LOTOS achieved consolidated EBITDA of PLN 670m and consolidated EBIT of PLN 432m. Net profit rose to PLN 380m, up PLN 154m on the previous quarter. To compare, in Q3 2015 LOTOS reported a consolidated net loss of PLN -249m.
It has been a year since Grupa LOTOS commenced the construction of the EFRA Project with a symbolic cornerstone laying ceremony. A giant pile-driving rig was already operating nearby, reinforcing the ground for the construction of a substation building, now almost ready. Financing was also finally arranged for this enormous investment project, valued at approximately PLN 2.3bn, and contracts were finalised with the most important contractor, Kinetics Technology (KT).
From September 6th to September 8th, Grupa LOTOS will participate in the next Economic Forum held in Krynica-Zdrój. The company is a partner of the event. As in the previous years, more than 180 discussion panels will take place at this mountain town to talk about the most important economic, social and political issues in Europe.
A new crude oil field discovered in the Norwegian sector of the North Sea opens up new opportunities for LOTOS Norge’s growth and adds to its production potential.
From the end of August 2016, the Avgas 100 LL fuel is available for general aviation users at the airport in Szymany. The Olsztyn-Mazury Airport has now two types of fuel on offer − Jet-A1 and aviation gasoline called Avgas.
A breakthrough was made towards redevelopment of the Norwegian Yme field, in which LOTOS Norge holds a 20% interest. The faulty production platform has just been removed from the field, to facilitate further work on its full development.
Tankers Atlantas and Calida, carrying together 2 million barrels of Iranian oil for LOTOS, have just arrived at Naftoport in Gdańsk. The oil is currently being unloaded.
Tanker Atlantas, carrying 2 million barrels of Iranian oil for LOTOS, has just reached the Danish Straits. A challenging ship-to-ship transfer of a portion of the cargo to a smaller vessel is about to start. Both tankers are expected to arrive in Gdańsk around August 14th.
In the first half of 2016, LOTOS posted PLN 1,211m in operating profit before depreciation and amortisation (EBITDA). Operating profit (EBIT) was PLN 688m, with net profit of PLN 332m. The average capacity utilisation rate at the refinery in Gdańsk was 96% (against 99% in the second quarter of 2016).
Statoil, LOTOS Norge and Total Norge, which together hold the Utgard licence (formerly Alfa Sentral), have submitted the Plan for Development and Operation of the licence to the Norwegian and British regulators. Production from the Utgard field is scheduled to start in late 2019.