PKN ORLEN to expand its fuel retail business in Hungary

The announcement came after a meeting in which the President of the Management Board of the company discussed the details with the Hungarian Prime Minister.

PKN ORLEN has announced a new step in its strategy to strengthen its international position by expanding its fuel retail business into Hungary. Part of its ORLEN2030 initiative, the ORLEN Group will build a retail chain in the country to position the brand among the region’s leading players.

The details of the expansion were discussed in a recent meeting between the President of the Management Board of PKN ORLEN, Daniel Obajtek, and the Hungarian Prime Minister, Victor Orbán. Other topics included the strategic aspects of energy security in this part of Europe.

“The meeting also touched on the agreement announced a few weeks ago between MOL Group and the Polish company. Following an asset swap deal, MOL will enter the Polish fuel retail market, where it may become the third largest player, while PKN ORLEN will become the fourth largest fuel retailer in that country. This cooperation is a great sign of the economic dynamism of the two countries. It also strengthens the V4 cooperation and benefits the CEE economic relations,” announced the office of the Hungarian Prime Minister.

“Our business decisions are not only strengthening the ORLEN Group's position in Central and Eastern Europe, but – what is even more important – are bringing benefits for the entire region. There is great value in that, as a business organization, we have the potential to ensure the region’s security and independence in terms of fuel and energy supplies,” said Daniel Obajtek, President of the Management Board of PKN ORLEN.

Under the agreement signed with MOL Group, PKN ORLEN will acquire 144 service stations in Hungary. In a single asset swap deal, PKN ORLEN will gain an over 7% share of the Hungarian retail market, becoming the fourth largest fuel retailer in terms of the number of service stations in that country. PKN ORLEN’s share of the Hungarian wholesale market is already at 5% in the case of gasoline and 4% in the case of diesel oil.