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The Warsaw Voice » Business » August 17, 2018
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New facility at Mazeikiai
August 17, 2018   
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Mazeikiai refinery
Listed fuel concern PKN Orlen's Lithuanian unit Orlen Lietuva intends to launch a new hydro-cracking facility to 2022/23 with a view to improving profitability of the Mazeikiai refinery and reduce its dependence on the macroeconomic conditions, CEO Daniel Obajtek told a conference.
"In July, we secured a license for constructing a hydrocracking facility, which is to boost our processing of crude oil," Obajtek said, while adding that PKN Orlen expects the facility to be ready to 2022/23.
"That hydro-cracking facility, on the one hand, is to significantly improve the profitability and margins of the Mazeikiai refinery, while also make it more independent of the volatile macro environment, and on the other, adapt it to the norms that come into force as of 2020," Obajtek also said.
The outlays on the new facility were not specified.
"Given that so far we have needed 10 million tons of crude for oil processing at Mazeikiai, we assume that after launching the hydrocracking facility we will use 8 million tons of crude to obtain even more oil," Obajtek said, pointing to the expected "obvious savings".
Orlen bought the Mazeikiai refinery in 2006 for ca. USD 2 billion and has so far spent some PLN 3 billion on investments there.
In 2017, the refinery's capex hit PLN 300 million. The 2018 capex has already exceeded PLN 100 million.
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