Wojciech Balczun, Minister of State Assets, estimates potential damages incurred by Orlen due to actions taken by previous company management could reach as high as 20 billion PLN. Nonetheless, he reassures that fuel supplies to Poland remain secure despite the tense global oil market situation.
Balczun also highlighted the planned acquisition of Orlen Paczka by Poczta Polska, marking a critical step in establishing a national logistics operator.
He stated, “The scale of potential damages incurred by Orlen as a result of actions by the previous management can be quite significant, amounting to between 17 and 20 billion PLN. These matters are under prosecution investigation, and thus final assessments will first be made by the authorities and later by the courts.” The figure mentioned by the minister reflects an estimate of the total potential damages associated with various cases investigated following the leadership change at Orlen.
Since 2024, Orlen has been conducting extensive audits pertaining to decisions made from 2016 to 2024. As of March 2025, the company reported that it had initiated 118 control actions, filing 16 notifications to prosecutors concerning former board members and executives.
New Developments Surrounding Olefin III
One recent example highlighted by Balczun is a notification concerning the Olefin III project and a long-term contract imposing significant penalties, even though the past management was aware of the risks of failing to adhere to the project timeline. This contract was established in October 2021 for long-term ethylene oxide supplies related to the Olefin III facility.
Olefin III has already been a focal point in the company’s audits. In December 2024, Orlen decided to halt the project in its original form, citing that actual costs could surpass initial estimates by six times. The abandonment of the investment in its previous format was intended to prevent losses nearing 15 billion PLN, and Orlen reported the identified irregularities to the prosecutors.
Balczun: Fuel Supplies Are Secured
The issues related to the previous management are just one of the challenges currently being addressed by the Ministry of State Assets. Another concern is related to the global oil market and the security of supply.
“The most important factor is ensuring the continuity of fuel supplies, and in this regard, Orlen has acted appropriately by anticipating potential risks. The company has secured supply contracts from various sources, and in recent days, it managed to secure an additional tanker. Not all countries and companies worldwide have prepared for the current situation as well,” Balczun stated.
The situation became more complicated due to reduced supplies from Saudi Arabia. Following drone attacks on Saudi infrastructure and the temporary closure of a pipeline leading to the Red Sea, Saudi oil shipments to Europe decreased. However, Orlen reports that its refineries are operating normally and that the company is utilizing diversified sources for its supplies, with tankers arriving in Gdańsk from the USA, Algeria, and Norway.
Orlen had previously increased its supply security from Norway, signing a three-year contract with Equinor in August. The contracted volume could exceed 9 million tons of oil annually, meeting approximately one-fourth of the entire group’s demand. The crude oil will be delivered to refineries in Poland, the Czech Republic, and Lithuania.
Poczta Polska Returns to the Orlen Paczka Deal
Balczun confirmed that discussions regarding the acquisition of Orlen Paczka by Poczta Polska are still ongoing. “I hope Poczta Polska will be the buyer of Orlen Paczka. The Postal Service is preparing for this transaction financially and has a plan for how to proceed. It is not merely a simple capitalization of Poczta Polska — we need to find a solution within our available resources. We are in the middle of the process, so I do not want to delve into the specifics at this stage,” stated the Minister of State Assets.
This marks a second attempt at the transaction. In September 2025, Orlen and Poczta signed an agreement stipulating that Poczta would initially acquire a minority stake in Orlen Paczka, with the potential to purchase 100% of the shares later.
However, in February 2026, both companies officially withdrew from executing this agreement. Current negotiations have resumed, and at the start of September, the minister indicated that the sale process was once again active, stating that the parties are engaged in “tough negotiations.”
Aiming to Establish a National Logistics Operator
The Ministry’s plan extends beyond merely changing ownership of Orlen Paczka. The aim is to leverage the assets of both companies to strengthen Poczta’s position in the rapidly growing courier and e-commerce market.
“Certainly, we want to consider the establishment of a national logistics operator based on the assets that Poczta Polska will possess following this transaction, if it occurs,” Balczun announced. Earlier in September, he publicly stated that Poczta Polska “must build a national logistics operator,” linking this project with state security. He believes that acquiring Orlen Paczka will allow Poczta to re-enter the market as a significant player in courier, express, and parcel deliveries.
If negotiations succeed, this will not only be a sale of an asset not directly connected with Orlen’s core business but also represent a component of a more extensive operation for Poczta Polska—aimed at restoring its position in the logistics market and creating a state operator capable of competing effectively in the e-commerce sector.
