Subject and scope of activities

Subject and scope of activities

Grupa LOTOS S.A. is a national petroleum concern which deals in oil exploitation and processing and the wholesale and retail trade of high quality petroleum products. The Company markets, among others, lead-free petrol, diesel oil and aviation fuel. The Concern  is also the leader in the sales of engine oils, bitumen and paraffin in Poland. A nationwide petrol station chain operates under the LOTOS brand.

Grupa LOTOS is a joint-stock company listed on the Warsaw Stock Exchange (WSE) since June 2005.

According to the By-Laws, the Company operates in Poland and abroad. Besides Grupa LOTOS S.A. (the parent company which manages the Gdańsk refinery) and LOTOS Czechowice S.A., LOTOS Jasło S.A. and an exploration and exploitation company, Petrobaltic S.A., the national Capital Group also comprises 14 LOTOS companies. Through its Norway-based subsidiary, LOTOS Petrobaltic - LOTOS Exploration and Production Norge AS, the Concern is present on the Norwegian Continental Shelf, where it carries out oil exploration and exploitation.

At the end of 2009, the LOTOS Group employed 4,949 persons. Consolidated sales revenues exceeded PLN 14.3 bn. Thanks to the  effective fulfilment of the 10+ Programme, the processing capacity of the Gdańsk refinery will grow to 7-8 million tonnes in 2010. The Group’s share in the total fuel market grew from 25.4% in 2008 to 28.3% in 2009. 

The ultimate strategic objective of Grupa LOTOS is to retain the regional competitiveness of the Company among the petroleum companies operating in the regions of the Baltic Sea and Central and Eastern Europe. The Company intends to remain competitive in the region by pursuing actions in the operating and market areas. The operating area includes the implementation of the 10+ Programme. When completed in 2010, the Programme will allow the Company to increase the general economic effectiveness of petroleum processing in the Grupa LOTOS Gdańsk refinery. Another major direction of development of the Capital Group is the expansion of the exploration and exploitation segment, so that the profits achieved by the Company fluctuate less in the future, as a result of incorporating the entire chain of value related to the sale of petroleum products. As regards the market area, Grupa LOTOS intends to fulfil the goal of retaining regional competitiveness by increasing and then stabilising market shares, the expanding the chain of own and partner petrol stations and using the leverage provided by the coastal location of the Gdańsk refinery. 

The corporate strategy includes the development of the aforementioned areas in line with the concept of sustainable development: the aim to constantly reduce environmental impact with appreciation for intellectual capital and employee expertise.  

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