February 4, 2023


Complete Canadian News World

PGNiG prides itself on its upstream sector results.  "Twelve-fold increase"

PGNiG prides itself on its upstream sector results. “Twelve-fold increase”

DC group PGNiG generated over 15.5 billion PLN in EBITDA – PGNiG President, Paweł Majewski, announced in a press release. In 2020, it was 13 billion PLN.

One part spoiled the results

Piece Exploration and production in the whole of 2021 recorded PLN 13.53 billion EBITDA, compared to PLN 0.93 billion in the previous year. The negative EBITDA result, in turn, was created by the trade and warehousing sector – it was at a level of minus 1.7 billion PLN, compared to PLN 9.58 billion in 2020.

In the fourth quarter alone, PGNiG estimated EBITDA of PLN 8.2 billion, compared to just over PLN 2.3 billion a year earlier. – Almost all earnings before interest, tax, depreciation and amortization (EBITDA) from the fourth quarter were nearly unchanged Just developed in the exploration and production sector – The president confirmed. The sector was created – according to estimates – 8.1 billion PLN.

See also: Where does inflation come from? “I am troubled by the bias of this discussion.”

This is primarily the result of constantly developing activity in the upstream sector, including a very favorable thank Deal Acquisition of 21 Norwegian Privileges Of concern INEOS – evaluation of Paweł Majewski.

The turmoil hit the gas giant’s market

This year, it is particularly difficult for PGNiG There have been high prices and large fluctuations in natural gas quotations. Hence the negative result of the trade and warehousing sector.

Przemyslav Waklavsky, Vice President of Finance, stressed that the harsh market conditions that we dealt with throughout the entire fourth quarter of 2021 challenged the liquidity position of many European gas trading companies.

Thanks to this, PGNiG maintained the effective functioning of the entire group, even in the most critical moment in December 2021, when gas fuel prices fluctuated around 150 euros per megawatt-hour and were several hundred percent higher than the previous year – Przemysław Wacławski was evaluated.

Polskie Górnictwo Naftowe i Gazownictwo SA is a listed company. Dealing with natural gas exploration and production oil Oil and gas imports, and through the main companies, storage and sale, Distribution of gaseous and liquid fuels The production of heat and electricity. In Poland, PGNiG is the largest importer and supplier of natural gas.