PKN Orlen
We set the pace
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| Public company | |
| Traded as | : PKN WIG30 Component |
| Industry | Oil and Gas |
| Founded | Płock, Poland (1999) |
| Headquarters | Płock, Poland |
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Key people
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Wojciech Jasiński Executive Chairman |
| Products | Fuel, crude oil and other natural gas |
| Revenue |
 26 bln EURO (2011) |
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PLN 3.070 billion (2010) |
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Number of employees
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24,113 (2007) |
| Website | www.orlen.pl |
PKN Orlen (Polish: Polski Koncern Naftowy Orlen) (: PKN) is a major Polish oil refiner and petrol retailer. The company is a significant European publicly traded firm with major operations in Poland, Czech Republic, Germany, and the Baltic States. In 2009, it was ranked in the Fortune Global 500 as the world's 31st largest oil company and the world's 249th largest company overall, and was the only Polish company ranked by Fortune. It currently (2016) ranks 454, with a revenue of over US$33.8 billion. Orlen is a major sponsor of the Polish volleyball, both the national teams and the women's national tournament.
The firm was created through the merger of Poland's two communist oil monopolies. PKN Orlen has its roots in the creation of C.P.N. (Centrala Produktów Naftowych), Communist Poland's petroleum retail monopoly in 1944. In the 1950s, the second block of PKN Orlen was formed, Petrochemia Płock, a state firm in charge of the refineries in Płock and grew to become the largest complex of its kind in Poland. After the merger of CPN and Petrochemia Płock, the company was renamed into Polski Koncern Naftowy (PKN), with Orlen added several months later as the consortium's brand name. The new name is derived from Orl- for "orzeł" (Polish: eagle) and its adjective "orli", and -en for "energia" (Polish: energy).
In 1999, both firms were partially privatized and merged to create a retail and refining company under the name PKN Orlen.
Orlengate is the biggest corruption scandal in the modern political history of Poland. It happened during the rule by the left-wing government of the postcommunist party SLD (Sojusz Lewicy Demokratycznej, Democratic Left Alliance). Disclosed in 2004, the scandal started with the arrest on 7 February 2002 by the UOP (Office for State Protection) of Andrzej Modrzejewski, the CEO of PKN Orlen.
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Wikipedia