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Poland’s leading energy company, PKN Orlen, has announced a significant decision to change its name from “Polski Koncern Naftowy Orlen” to “Orlen.” This move is part of the company’s strategy alignment and expansion into various energy sectors, such as renewables, electric mobility, nuclear power, and hydrogen. The proposal to change the name was put forth by management and received overwhelming support from 99.969% of voting shareholders.
With recent acquisitions of Lotos Group, PGNiG, and Energa, Orlen has transformed into a multi-energy conglomerate. The current name no longer accurately represents the company’s diverse activities and ambitious business goals. Changing the name aims to maintain consistency with the Orlen 2030 strategy and establish a global brand presence in international markets.
Embracing the Energy Transition
Orlen’s name change reflects its strategic direction, focusing on segments beyond oil refining. The company plans to allocate around 66% of its value to non-oil-related activities between 2023 and 2026. The new name will better reflect the company’s current operations and strategic development, including renewable energy, electric mobility, biogas, and biomethane.
By adopting a new name, Orlen aims to reshape its brand perception and position itself as a leading multi-energy corporation. The company’s expansion into various sectors aligns with the global shift towards sustainable energy solutions. The strategic vision includes establishing Orlen as a recognized name in international markets, reinforcing its commitment to a diverse and greener future.
Anticipating a Multi-Energy Future
As the energy landscape evolves, PKN Orlen’s name change marks a significant step towards embracing the energy transition. By diversifying its portfolio and adapting to changing market trends, the company aims to remain at the forefront of the industry, meeting the growing demand for renewable and sustainable solutions.