The Management Board of Grupa LOTOS S.A. confirms chartering “Atlantas” carrying 2m barrels of Iranian crude oil. The vessel will call at Naftoport in mid-August.

In June 2016, LOTOS reported a model refining margin of USD 7.09 per barrel, nearly 14% increase on the previous month.

On June 28th 2016, the Annual General Meeting of Grupa LOTOS S.A. was held in Gdańsk. The General Meeting approved the Company’s consolidated and separate financial statements for 2015.

A vast, several-hectare swath of land on the premises of the LOTOS refinery in Gdańsk has turned into an enormous construction site. Extension of the refinery as part of the EFRA Project (an acronym that stands for efficient refining) is past the piling (ground reinforcement) stage and into the stage of constructing the foundations.

LOTOS Kolej has opened a transport division in Poznań, and, what is more, LOTOS Terminale has a fuel depot located there. This capital city of Wielkopolska constitutes a “gateway to Europe” in terms of intermodal rail freight.

Grupa LOTOS and Elektromontaż Gdańsk S.A. have signed contracts for the delivery of distribution boards to the main power supply building of the EFRA units, upgrade of the existing electrical substations, and construction of cable networks as part of the EFRA project. The works will be carried out from June 2016 to July 2017. The value of both contracts is over PLN 14 million. Thanks to the expansion of the power system, it will be possible to incorporate the deep oil conversion units currently being constructed under the EFRA Project into the Gdańsk refinery in a timely and smooth manner.

For nearly twenty years, LOTOS Oil has supplied lubricants to Polish armed forces of various kinds. It has been ten years since the quality management system in place at LOTOS Oil successfully underwent the AQAP 2110 certification. This means that the company’s products meet the quality assurance criteria and standards required of every supplier of products for the armed forces of the North Atlantic Treaty Organisation member countries.

The EFRA Project financing was named the best project finance transaction in 2015 in the oil and gas sector by the high-profile EMEA Finance magazine.

In May 2016, LOTOS reported a model refining margin of USD 4.42 per barrel, representing a 3.5% increase on April 2016 and the second highest YTD level (in January 2016, the margin was USD 5.57/bbl).

Since April, LOTOS-Air BP Polska has supplied aviation fuel to Emirates Airline. The agreement provides for the supply of Jet-A1 aviation fuel at Warsaw Chopin Airport.

The Supervisory Board of Grupa LOTOS S.A. has closed the recruitment process to select members of the Company's Management Board, appointing Messrs Robert Pietryszyn, Mateusz Bonca, Marcin Jastrzębski, and Przemysław Marchlewicz to the vacant positions.

In the first quarter of 2016, LOTOS earned almost PLN 106m in consolidated net profit compared with a net loss in excess of PLN 100m reported for the same period last year. Operating profit (EBIT) for the period came in at PLN 138m on EBITDA of PLN 400m.