Warsaw, 05/04/2016 (ISBnews) – In the update the “Strategy for the PGNiG Group for the years 2014-2022″ will be four key business areas: maintaining value in the retail trade and wholesale, maximizing cash flow from the area infrastructure and manufacturing, strengthening and transformation of the area of exploration and production, and to build the foundations of growth throughout the value chain. The number of strategic initiatives that will be implemented in the perspective of 2022 rose to 16 from 10. Their implementation should allow to develop in 2022 EBITDA of approx. 7.4 billion zł, the company said.
“The growth target EBITDA stems mainly from higher aspirations in the areas of network infrastructure (distribution of gas and heat), foreign acquisitions in the Exploration and Production segment and the efficiency improvement program, “- said in a statement.
the aim is to maintain the level of EBITDA term 2017. and its increase to approx. 7.4 billion zł in 2022. given in the presentation.
the company stressed that the current financial situation and market capital group PGNiG was stable. However, in subsequent years, standing in front of a group of several challenges the nature of the market and regulatory approaches, no realization of strategic objectives may result in a significant deterioration in EBITDA.
“In view of the significant fluctuations in oil prices on world markets was no need to review and update previously implemented strategy: in the second mid-2014 the price of oil decreased from ~ $ 105 / barrel to ~ $ 55 / bbl. After an initial rebound in the second quarter of 2015 years to ~ $ 65 / barrel, the price of oil at the end of 2,015 years fell to the level of ~ 30 USD / barrel “- we read in the presentation.
PGNiG reported that as a result of the review of the Strategy and to verify previous assumptions, the update covered the following aspects: update of macroeconomic assumptions (including oil prices, natural gas and electricity, exchange rates); the updating of the market and operational m.in .: gas balance; the volume of gas transported through the distribution network; the amount of investment in the segment of production; changing strategic ambitions by modifying existing operational initiatives and the introduction of new operational initiatives.
The key aspirations strategy include portfolio diversification supply gas PGNiG after 2022 increasing the volume of production of oil and gas in total (Poland and abroad) to approx. 55-60 million boe in 2022. through the purchase of exploration and production assets, the development of new business areas by extending the value chain in the distribution of assets heating, a significant increase in the efficiency of the internal functioning of the PGNiG Group (savings of approx. 800-900 mln zł).
“in the context of the operational objectives, the key is to increase aspirations regarding the level of hydrocarbon production in the country and abroad to approx. 55-60 million boe in 2022 (using the market conditions allow to carry out cost-effective acquisition) and maintenance to mining in Poland at approx. 33 million boe a year “- read as well.
in the strategy of investment in organic growth and acquisitions have been maintained at the level of 40-50 billion zł.
“the assumed average annual investment in organic growth and acquisitions are higher by approx. 30% compared to average annual expenditures from the years 2008 to 2013″ – read as well.
PGNiG is present on the Warsaw Stock exchange since 2005. the group deals the production of natural gas and crude oil in the country, the import of natural gas to the Polish, storage of gas in underground storage of gas, distribution of gaseous fuels, as well as the deposit development of natural gas and crude oil in the country and abroad and the provision of services of geological, geophysical and exploration Poland and abroad.
No comments:
Post a Comment