Orlen's President on Mergers, Predecessors' Investments, and Fuel Prices
The President of Orlen discussed the completion of mergers, criticisms of previous management, and the future of fuel prices in a recent interview.
In a recent interview, Ireneusz Fąfara, the President of Orlen, remarked that the merger process of Lotos and PGNiG with Orlen can symbolically be considered concluded. However, he acknowledged that significant operational challenges remain for the company, particularly in terms of organizational and systemic issues that need to be addressed. This transition phase indicates that while the merger is officially announced, the integration work is far from over and will require extensive efforts from the management team.
Fąfara openly criticized the investment decisions made by previous management, citing their lack of foresight and planning as a primary issue. He highlighted the Olefiny III project, which saw its costs escalate dramatically from 8 billion to 50 billion PLN, as a significant example of past mismanagement. Such reflections suggest that the current leadership is not only focused on the present and future but also on learning from past mistakes to avoid repeating them in forthcoming projects.
Additionally, the conversation touched on the impact of active government ownership policies, led by the Minister of State Assets, which Fąfara described as a natural oversight mechanism. He also mentioned potential developments regarding Anwil and possible acquisitions related to the Polimery Police project, as well as the pressing issue of fuel prices. This indicates Orlen's role not just as a corporate entity but as a pivotal player in Poland's energy sector amidst changing national policies and market conditions.