About: http://data.cimple.eu/news-article/60dc740c3ce188d992a70b09c98222815f4f0a88ad6b37862dd8e90b

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About: http://data.cimple.eu/news-article/60dc740c3ce188d992a70b09c98222815f4f0a88ad6b37862dd8e90b Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Poland's top oil company on Tuesday set in motion plans to merge the country's four top energy companies into an entity with enough clout to compete in the international arena. "The merger of leading Polish companies will create an entity with diversified revenues, a large raw material base, modern processing, clean energy and integrated detail," Daniel Obiatek, chief executive of PKN ORLEN said in a tweet to announce the move. "We will be able to invest in large projects related to energy transformation," the head of Poland's biggest refiner added. Earlier in the day, PKN ORLEN received European Commission approval to acquire smaller Polish refiner Lotos in addition to a previous takeover of the utility company Energa. The group also plans to buy PGNiG, the largest gas company in Poland. Polish Prime Minister Mateusz Morawiecki called the planned merger "a bold development" that would build "a champion, not only in Poland, but on a European scale with ambitions extending to other markets". With fallout of the coronavirus pandemic sending Poland into its first recession since the collapse of communism, Morawiecki estimated the merged group could generate substantial profits. "With good management, it will be able to generate... profit before interest, tax and depreciation of... up to 20 billion zloty" (4.5 billion euros, $5.1 billion) annually, the premier said. He spoke during a joint press conference with Obiatek in Warsaw. Poland still depends on coal for around 80 percent of its electricity, and Morawiecki's government has rejected the EU's 2050 zero emissions goal, saying it could cripple the economy. A former energy minister has said Poland would have to spend up to 900 billion euros to achieve net zero emissions. Warsaw thus wants Brussels to fund a "fair" transition to carbon neutrality for the country of 38 million people. mas/dt/wai/jh
schema:headline	Poland's top oil group eyes global markets with merger
schema:mentions	Carbon neutrality PKN Orlen Great Recession European Commission PGNiG Communism Warsaw Renewable energy Brussels Coal Prime Minister of the United Kingdom Poland Polish złoty European Union Minute and second of arc Pandemic Severe acute respiratory syndrome coronavirus 2 Top Energy The Merger (The Office) Depreciation Energy industry
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-07-14 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	75 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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