PKN Orlen to ask EU for approval of PGNiG merger - CEO

PKN Orlen is set to ask the European Union for approval for its planned merger with gas company PGNiG this year, according to the Polish oil refiner chief executive Daniel Obajtek

Obajtek said the company was “moving very fast” and will be preparing a concentration notification that will be submitted at the end of 2020.

After being appointed 2018, he soon announced plans to take over smaller rival Lotos, and also bought utility Energa. Obajtek expects the takeovers to lift Orlen into the top league of European oil and gas players, he told Reuters.

He also said he hopes that consolidation will help Orlen invest in low or zero-emission energy sources.