Orlen Enters Hungarian market

Energy Trade

Photo by Postmodern Studio / Shutterstock.com

Polish energy group Orlwn on Thursday announced its entry onto the Hungarian market with the takeover of 143 gas stations, according to a report by state news wire MTI.

Orlen is taking over the refueling stations from Hungary's MOL in a deal linked to MOL's acquisition of over 410 gas stations in Poland under an agreement with PKN Orlen and Grupa Lotos.

MOL signed that deal in January, after the European Commission required PKN Orlen to divest assets as a condition for approval of its acquisition of Grupa Lotos. At the same time, MOL agreed to sell a number of its own refueling stations to PKN Orlen.

Orlen has already taken over 79 gas stations in Hungary that operate under the Lukoil brand and will take over the remaining 64, gradually, by mid-2024.

The company is also taking over 39 of MOL's petrol stations in Slovakia.

ADVERTISEMENT

Loan Officers Survey Indicates Increased Caution Banking

Loan Officers Survey Indicates Increased Caution

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021 Government

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021

Corvex Winds up Virtual Bank Card Project Fintech

Corvex Winds up Virtual Bank Card Project

European Capital of Culture Program Set to Boost Economy - N... Art

European Capital of Culture Program Set to Boost Economy - N...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.