Adjusted LIFO-based EBITDA reported by the LOTOS Group for the second quarter of 2019 was PLN 783.3m, an almost 24% increase quarter on quarter. From April to June 2019, the Gdańsk refinery ran at 105% of its nameplate capacity.
LOTOS has launched a new image-building campaign, which is a continuation of “The BEST doesn’t come from nowhere” series. From this week on, a 30-second spot being an extension of the outdoor campaign launched in July, will be run on the Internet and television. The campaign is designed to support customer touchpoints – LOTOS service stations and the entire range of fuel and non-fuel products.
Drilling operations in licence PL442 in the NOAKA area in the North Sea discovered recoverable oil resources estimated at 80–200 mboe (barrels of oil equivalent). Aker BP operates the licence (90.26%) in partnership with LOTOS Exploration & Production Norge (9.74%).
LOTOS Oil showcased its products at an international automotive fair held from July 4th to July 6th 2019 in Chennai, India. India has joined the group of 68 countries where customers can buy a wide range of high-tech oils manufactured by LOTOS.
The key plant constructed as part of the Grupa LOTOS EFRA Project, namely the Coker Complex consisting of the Delayed Coking Unit (DCU) and auxiliary installations, has reached the Ready For Start-Up (RFSU) status.
The TETRA critical communication system, implemented and successfully used at the Energa Group, has also been tested in sea and medical rescue operations in the Pomerania region. This most advanced radio communication system in Europe will now also be used by LOTOS Petrobaltic. Offered by Enspirion, the critical communication service will ensure reliable communication both in emergency situations and in day-to-day operations.
LOTOS E&P NORGE will participate in the 30th International Conference DRILLING-OIL-GAS AGH 2019 organised by The University of Science and Technology in Krakow, one of the leading technical universities in Poland.
On April 26th 2019, the Supervisory Board of LOTOS Asfalt appointed Olgierd Buchocki as Member of the Management Board (with effect from May 6th 2019).
Deliveries of crude oil by sea and the release of mandatory stocks ensure stable supplies of oil to Grupa LOTOS in the upcoming weeks. The Gdańsk refinery operates uninterruptedly at full capacity. At the same time, the Grupa LOTOS representatives, other refineries and PERN (negotiations leader) are working towards solving the issue of contaminated oil, both in the technical and commercial aspects.
Clean LIFO-based EBITDA reported by the LOTOS Group for the first quarter of 2019 is PLN 632m, a 17% increase year on year. The LOTOS refinery in Gdańsk operated at full capacity during the first three months of the year.
Due to the deterioration of REBCO quality parameters, the Ministry of Energy decided to halt its supplies at the Adamowo connection point. Grupa LOTOS S.A.’s existing stocks of crude oil allow it to maintain continuity of production at the Gdańsk refinery. The situation has no impact on the quality of fuels sold at LOTOS service stations.
Between March 13th and March 18th 2019, Grupa LOTOS and PGNiG completed two LNG commercial bunkering operations for seagoing ships. These were the first such operations carried out at the sea ports of Gdańsk and Gdynia. LOTOS and PGNiG are set to continue cooperation in LNG bunkering as this will enhance the competitiveness of Polish ports and promote the use of LNG, as an environmentally friendly fuel, in the Baltic Sea.