Hungary, Orlen Group has entered the fuel market, SEE Energy News
The Polish Orlen Group has entered the Hungarian fuel market, taking over a total of 143 petrol stations. The move follows the finalization of the acquisition of the LOTOS Group and the conclusion of an agreement with the Hungarian MOL Group to take over part of the stations.
Namely, 79 petrol stations have already been taken over by PKN Orlen and are currently operating under the LUKOIL brand. The remaining 64 stations will be taken over gradually until mid- 2024. At the same time, PKN Orlen will take over 39 petrol stations in Slovakia from the MOL Group, bringing the total number of stations in the neighboring country to 91 in 2023. The total agreed purchase price is 229 million euros. Following the completion of the transaction, PKN Orlen will operate more than 660 petrol stations in the Czech Republic, Slovakia and Hungary.
The Polish company will be the market leader in the Czech Republic with 430 service stations and one of the four largest players in Slovakia and Hungary.
Earlier this week, MOL said that it had successfully concluded the agreement with PKN Orlen and LOTOS Group, acquiring more than 410 petrol stations in Poland. The contract on the acquisition was signed in January. According to the announcement at the time, the deal will make MOL a dominant player in the Polish retail fuel market, with more petrol stations than in Hungary. With the Polish transaction, MOL is now present in ten countries with its retail business.
- February 5, 2023 Bulgaria, Volume on IBEX DAM 2.59 TWh in January
- February 5, 2023 Romania exports a third of its electricity production
- February 5, 2023 SEE Region, Increase in production in thermal power plants by 23 percent, to close to 10 TWh