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Poland's Orlen revises plan for Olefins petchem project

Published by Global Banking & Finance Review

Posted on December 11, 2024

1 min read

· Last updated: January 27, 2026

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Finance Minister Andrzej Domanski outlines Poland's GDP growth expectations of 2.8-2.9% for Q4 2023, emphasizing the importance of investments and exports for future economic stability.
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Orlen Adjusts Olefins Project Plan, Lowers Cost Estimate

GDANSK (Reuters) - Orlen is revising its plans for its "misguided" Olefins petrochemical project and expects to lower its estimated cost to 34 billion zlotys ($8.40 billion), Poland's largest gas and oil company said on Wednesday.

Orlen said it would proceed with a newly defined framework called "New Chemistry" that eyes commissioning olefins production no sooner than 2030.

($1 = 4.0448 zlotys)

(Reporting by Mateusz Rabiega; editing by Jason Neely)

Key Takeaways

  • Orlen revises Olefins project plan.
  • Estimated cost reduced to 34 billion zlotys.
  • New Chemistry framework introduced.
  • Production expected no sooner than 2030.
  • Orlen is Poland's largest gas and oil company.

Frequently Asked Questions

What is the main topic?
The main topic is Orlen's revision of its Olefins petrochemical project, including cost reduction and a new framework called New Chemistry.
What changes has Orlen made to the project?
Orlen has revised the project's cost to 34 billion zlotys and introduced a new framework called New Chemistry, targeting production by 2030.
Who is Orlen?
Orlen is Poland's largest gas and oil company, involved in the petrochemical industry and other energy sectors.

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