PKO Bank Polski - Polski Koncern Naftowy ORLEN S.A. (PKN) PKN Orlen - Downstream macro data update â€“ May 2019: Refining margins rebound (positive)

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PKO Bank Polski

Tomasz Kasowicz

PKN Orlen - Downstream macro data update â€“ May 2019: Refining margins rebound (positive)

Research prepared by PKO BP Securities

04/06/2019 3 EN

Underlying

Polski Koncern Naftowy ORLEN S.A.

Polski Koncern Naftowy Orlen's activities are divided into three main business segments: the Refining Segment that comprises crude oil processing as well as wholesale and retail trade in refinery products. The Petrochemical Segment that encompasses production and sale of petrochemicals and chemicals. The Retail Segment that comprises of sales at petrol stations. Co.'s basic products include gasolines, diesel oils, light heating oil, Jet fuel, liquid gas, polyetylene, polypropylene, benzene, butadiene, acetone, phenol, glycols, toluen, ortoxylene.

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PLPKN0000018 Warsaw Stock Exchange Poland

Provider

PKO Bank Polski

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Analysts

Tomasz Kasowicz

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PKN Orlen - Downstream macro data update â€“ May 2019: Refining margins rebound (positive)

WOOD Daily: EAT PW; EUR PW; CBF PW; MBR PW; ALE PW; VRC PW; TEN PW; PKN PW; PPC GA; LAMDA GA; MTELEKOM HB; DIGI RO; ETEL EY; DAT PW; PGE PW; OTP HB; TXT PW

WOOD Daily: PEO PW; PKO PW; WIZZ LN; BVB RO; TBCG LN; CTPNV NA; AIRA LI; PKN PW; MOL HB; MBR PW; CEZ CP

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