PLN 29,258.5m is the exact figure for sales revenue posted by LOTOS after the four quarters of 2011, an increase of close to 49% over the year before. On that revenue, we recorded PLN 1,016.5m in operating profit and PLN 654.2m in net profit.

The Norwegian Ministry of Oil and Energy announced January 17, 2012 new awards of production licenses offered under the APA 2011 Licensing Round.

Challenges facing the EU oil sector and building the sector's potential are the key themes of the 14th refining and petrochemical industry conference organised by the World Refining Association. The three-day event (October 11th–13th 2011) held at venues in Sopot and Gdańsk brings together over 250 managers of major refining companies, as well as industry experts. The meeting ends with a tour of the facilities built as part of the 10+ Programme at Grupa Lotos, the lead partner of the WRA Conference.

Following completion of the 10+ Programme, Grupa LOTOS has been focusing on a project concerning cavern storage facilities in Pomerania as the next key element in building safety and solidarity in the energy sector. Günter Verheugen and Paweł Olechnowicz have proposed to initiate a pan-European discussion on safety in the energy sector and the related challenges during Polish presidency in the European Union.

Grupa LOTOS S.A. has ranked 11th in the EUROPA 500 ranking of the 500 largest CEE companies, having advanced eight positions compared with 2009. The ranking has been prepared by the Rzeczpospolita daily together with Deloitte, a consultancy firm.

PLN 1bn was the EBITDA generated by Grupa LOTOS S.A. in the first half of 2011, when its revenue hit a record figure of nearly PLN 13.3bn. Higher sales, higher crude oil prices and a weaker dollar were among the factors which allowed the Company to generate a net profit of PLN 889m.

On August 23rd 2011, Grupa LOTOS S.A. extended its USD 400m inventory refinancing and financing credit facility agreement with a bank consortium including Bank PEKAO S.A., PKO BP, BRE Bank and Nordea Bank Polska S.A.

MOPU, which will operates YME project, located on the Northern Sea was successfully installed on the location. Towing commenced at noon 24th of June and the whole installing operation came to an end on 26th of June.

Today, Grupa LOTOS S.A. and Przedsiębiorstwo Eksploatacji Rurociągów Naftowych Przyjaźń S.A. have signed a letter of intent concerning joint construction of underground storage facilities for crude oil and liquid fuels. The plans provide for the facilities to be built in Pomerania, which will additionally strengthen the energy security of Poland and other states of the Baltic Sea region.

LOTOS Norge will be having the most busy summer season in 2011 since the company was established in 2007. In license PL503, in the southern part of the North Sea, a large 3D seismic survey of 1560 sq km started in early June. The vessel "Artemis Arctic" operated by Dolphin Geophysical AS is the contractor for the offshore acquisition work. The acquisition period is scheduled to last into the month of August.

After four quarters of 2010, the LOTOS Group reported operating profit of PLN 769m, up by 83% year on year, and net profit of PLN 653m. Sales revenue stood at PLN 19.7bn, having grown by 36% relative to the previous year.

Grupa LOTOS shall increase by 100 thousand tonnes its annual crude oil production. It is possible thanks to sales&purchase agreement of 100% AB Geonafta’s shares, which produces crude oil on territory of the Republic of Lithuania. Closing documents were signed in Vilnius on 3rd of February. It’s another step for Grupa LOTOS corporate strategy completion, that stands for company’s crude production enhancement.