Orlen boss calls for social and economic responsibility in times of pandemic
In an article recently published in The Washington Post, president of Poland’s biggest oil refiner Orlen writes about the economically and socially responsible strategies to respond to difficult times of pandemic, a need to integrate the fuel and energy sectors and the mission of building a multi-energy group.
Daniel Obajtek writes: “The Polish economy, just like economies of other states, has not only faced challenges of climate protection or shrinking resources, but also of coping with COVID-19 pandemic.” In his opinion a way to respond to these challenges is to make “bold decisions in all areas of life, especially in business “ and “think globally, without losing sight of our own country.” He points to the importance of economic patriotism and social responsibility.
In Obajtek’s view companies should take decisions not only to support their own business, but also to benefit the society. He gives an example of his own company which offers material and financial aid to medical personnel and uniformed services fighting with the epidemic. At the same time, PKN Orlen supports the national economy and the market, by regularly reducing fuel prices.
According to PKN Orlen’s CEO, fuel and energy sectors need to be integrated and hence the company’s priority is to transform into a multi-energy group. “Strong groups with diversified operating areas are the future,” and by merging with other companies, investment potential can be strengthened.
“The power of PKN Orlen stems not only from its 60 years’ experience in the oil industry but most of all from modern and integrated assets. The Orlen Group is made up of around 70 companies operating in Poland and abroad. We are a strong player in the area of petrochemicals and fertilizers, as well as in the energy sector. (…) As much as 60% of our revenue is generated on international markets. Our mission is to process primary energy sources into fuels and materials. This drives economic growth,” Obajtek writes.
He believes that the merger of PKN Orlen with its Polish peer fuel group Lotos, on course to forming strong, multi-energy concern is a crucial strategic move towards greater competitiveness, better negotiating position for oil supplies and opening to other regions of the world. At the same time it will strengthen the Polish economy, he writes, by improving stability in the fuel market and enhancing the energy security, important at a time of a market downturn. Taking over of state-controlled utility Energa also forms part of the strategy of developing a multi-energy group. The acquired assets will enable Orlen to develop projects based on zero- and low-emission generation sources.