The organization firmly denies the false allegations presented in the program Czarno na Białym, aired on TVN24 on May 29, 2023, regarding the acquisition of Grupa LOTOS. The material contains numerous inaccuracies and simplifications, relies on sensationalism, and manipulates quotes from company representatives. The program did not reflect the company’s responses, which clarified the issues raised, and the overall presentation appears crafted to support a predetermined thesis.
The official statement outlines several key points. It notes that multiple firms with varied backgrounds and at different stages joined the process. The partner selection was multidimensional, guided by numerous strategic criteria and conducted with input from external experts with international experience, all under the monitoring of a trustee appointed by the European Commission. The collaboration with Saudi Aramco was framed around stable oil supply and the potential for joint development projects, including refinery and petrochemical initiatives that were not offered by others. Further information about Global Oil’s activities can be found on its own website. Advisors evaluated all these experiences. Available information suggests that Global Oil acted as an intermediary in the sale of fuels during the conflict in Iraq. The source of supply included Saudi Arabia, a reliable global contractor who, according to the material, contradicts the author’s portrayal as the sole reliable partner of PKN ORLEN.
It is not a sensational revelation that some Hungarian stations formerly owned by MOL, which were later acquired by PKN ORLEN, previously operated under the Lukoil brand. This fact was acknowledged in official communications by the company on May 27, 2022.
It is incorrect to state that ORLEN purchased Hungarian stations operating under the Lukoil brand from the Russians. The company explains that stations in Hungary were acquired from MOL, encompassing those branded both MOL and Lukoil. The organization rejects any attempts to implicate ORLEN with Imre Fazakas and Lev Tolkaczew, the former owners of Normbenz who ran Lukoil-branded stations in Hungary and were later purchased by MOL. There is no ongoing relationship with the former owners prior to MOL, an important clarification addressed in the program’s discussion.
The valuation and sale of LOTOS assets were conducted under market conditions, including logistics assets. The valuations presented in visual materials diverge from the actual market values. It is noted that independent external advisors prepared these valuations. The entire process adhered to applicable law and received approval from the European Commission for the transaction.
Claims that the shareholders of LOTOS bore losses from the merger with PKN ORLEN are not accurate. Shareholders received PKN ORLEN shares in exchange, following a ratio accepted by the shareholders of both companies. The process was supported by the Ministry of Finance, private investors, and funds, with nearly unanimous approval at general meetings. The market reaction to the merger with Grupa LOTOS, and in some respects with PGNiG, was positive. Upon closing, Fitch Ratings upgraded the company’s long-term rating to BBB+ with a stable outlook, and Moody’s Investors Service assigned the highest rating in PKN ORLEN’s history at A3.
In light of inaccurate information presented in TVN24 materials that could undermine PKN ORLEN’s credibility, the company intends to pursue appropriate legal action to safeguard its image and reputation. The message underscores a commitment to factual accuracy and transparent communication in corporate disclosures and public discussions.
The discussion continues to emphasize the importance of accurate reporting, verified data, and accountability for all statements related to the negotiations, regulatory processes, and strategic decisions affecting the organization and its stakeholders.
The overall aim remains to ensure that public statements align with the documented facts, shareholder interests, and the outcomes approved by the relevant authorities and market participants.