Orlen Lietuva EN Archives - Page 4 of 4

What does Poland’s political upheaval mean for Lithuania?

January 7, 2016 www.lrt.lt 0

The nationalistic Law and Justice party that recently came into power in Poland has been eyed warily by neighbors and other countries in the EU. Some have been worried about the its moves to tighten its control over the media and constitutional courts, and Lithuanian analysts are also split about what to make of the new political climate. In a show on LRT, several respected political observers discussed the ongoing events in Poland. […]

Russian oil to again feed Orlen Lietuva oil refinery in Mažeikiai

January 6, 2016 LT Daily 0

Russian oil will be once again supplied to the Orlen Lietuva oil refinery in Mažeikiai as the new head of the company Wojciech Jasinski is increasing raw material imports from Russia, newspaper Gazeta Wyborcza reports. […]

Orlen Lietuva delivers good financial results following restructuring

July 24, 2015 Lithuania Tribune 0

Orlen Lietuva benefits from restructuring and very favourable macroeconomic conditions. Production capacity utilisation reached 86 percent in the second quarter of 2015 (reaching 92 percent in June, which was the highest level since two years). […]

Prospects for Lithuanian exporters improving, DNB says

May 10, 2015 ELTA EN 0

Bank DNB analysts say that it is clear when evaluating Lithuania’s short-term export prospects that the first six months of 2015 will be the hardest. Producers who incurred losses due to harsh sanctions imposed by Russia are now reorienting towards new markets and reforming their business models. […]

Orlen Lietuva says authorised capital reduction will not affect solvency

February 24, 2015 ELTA EN 0

Petroleum company Orlen Lietuva responded to concerns expressed publicly by Lithuanian Railways (Lietuvos Geležinkeliai) over the company’s finances. Orlen Lietuva said that the reduction of its authorised capital was not related to payment to shareholders but was used to cover losses, thus it will not affect solvency. […]

LNG terminal brings EUR 5.4mn revenue to Klaipėdos Nafta in January

February 8, 2015 ELTA EN 0

The Lithuanian company Klaipėdos Nafta in January reloaded 632,000 tons of oil products into its storage tanks of oil terminal and the Subačius fuel base, more by 59.2 percent compared to January 2014, when 397,000 tons were reloaded, the company said in a report. […]

Lithuanian Railways under EC anti-trust scrutiny over dismantling track to Latvia

January 6, 2015 BNS 0

If the European Commission decides that Lietuvos Geležinkeliai (Lithuanian Railways, or LG) limited competition in the rail market by removing a railway track to Latvia, Lithuania might consider rebuilding the track or turning to the European Court of Justice, Transport Minister Rimantas Sinkevičius said on Tuesday. […]

PM – Orlen Lietuva to end year successfully

December 27, 2014 ELTA EN 0

Prime Minister Algirdas Butkevičius says the situation in petroleum refining company Orlen Lietuva, which operated at a loss, has now stabilised. Decreasing oil prices next year are expected to contribute to the improvement of the company’s financial indicators. […]

Unsolved dilemma of Orlen Lietuva (Mažeikių Nafta)

October 29, 2014 Agnia Grigas 0

The launch of Lithuania’s new LNG Terminal Independence in Klaipėda is cause for celebration as a victory over Russian gas dominance. as well as neighbouring Latvia and Estonia. However, another Lithuanian energy sector dilemma remains unresolved despite efforts of the European Commission and Vilnius and Warsaw – the Russian eight year long oil ‘embargo’ against the Lithuanian oil refinery Orlen Lietuva (Mažeikių Nafta). […]

Orlen Lietuva improves results amidst pressure of operational costs

October 23, 2014 Lithuania Tribune 0

EBITDA LIFO result of Orlen Lietuva in the third quarter amounted to USD 54 million and was USD 58 million higher, year-on-year, supported by favourable macroeconomic environment in this period. […]

Economy, war and euro: why are Lithuanians so pessimistic?

October 14, 2014 www.lrt.lt 0

According to opinion polls, the Lithuanian public is growing increasingly pessimistic about the country’s economic outlook. This, says economist Žygimantas Mauricas, has a lot to do with the economic stand-off between the European Union and Russia as well as fears about the euro adoption. […]

Orlen Lietuva: Till death do us part

August 13, 2014 Andrius Matuliauskas 0

Mažeikiai oil refinery has never been a plum company for the Polish oil refiner PKN Orlen. Now, the situation has gone so sour officials are talking of bankruptcy. […]

Orlen Lietuva and workers’ trade union reach agreement

August 1, 2014 BNS 0

The management of Orlen Lietuva (Orlen Lithuania) and the oil company’s trade union on Friday reached an agreement on the key items of the collective agreement, which will stipulate that workers of the oil refinery will be rewarded for performance, but the incentives will also be tied to the performance of the company as a whole. […]

President Grybauskaitė: Lithuania cannot provide direct subsidies to Orlen Lithuania

July 24, 2014 BNS 0

Lithuania cannot subsidize privately-owned oil refinery Orlen Lietuva, says President Dalia Grybauskaitė, adding that she expects PKN Orlen, the Polish mother company, to help its Lithuanian subsidiary continue operations. […]

Liberal MP: Government must step in to save ORLEN Lietuva

July 23, 2014 ELTA 0

If there is ever a threat of the oil refinery in Mažeikiai closing down, the government must urgently step in, says Eligijus Masiulis, leader of the Liberal Movement parliamentary group. […]

Lithuanian oil refinery under financial strains

July 23, 2014 the Lithuania Tribune 0

The effects of negative macroeconomic climate for oil refining sector and the results of tests for impairment of fixed assets required according to financial standards, significantly affected the level of ORLEN Lietuva financial results in H1 2014, said the company in a statement. […]

Prime Minister Butkevičius: Proposals for ORLEN Lietuva still on the table

July 23, 2014 ELTA EN 0

Responding to public information about further activities and difficulties experienced by oil refinery ORLEN Lietuva, Lithuania’s Prime Minister Algirdas Butkevičius reminds that the company, just like other petroleum refining companies operating in the European Union, is facing structural problems propelled by fundamental changes in the global fuel market. […]

Former US Ambassador Keith C. Smith: No one wanted Mažeikių Nafta and Russians tried to take it for free

July 21, 2014 the Lithuania Tribune 0

The Lithuania Tribune spoke to former American Ambassador to Lithuania Keith C. Smith. It was during his term in 1999 that Lithuania’s major oil refinery, Mažeikių Nafta, was sold to the American company Williams, a deal that went terribly sour several years later. […]