Polish energy giant to conquer Hungarian fuel market?

Polish energy group ORLEN on Thursday announced its entry onto the Hungarian market with the takeover of 143 petrol stations.

ORLEN is taking over the petrol stations from Hungary’s MOL in a deal linked to MOL’s acquisition of over 410 petrol stations in Poland under an agreement with PKN Orlen and Grupa Lotos. MOL signed that deal in January, after the European Commission required PKN Orlen to divest assets as a condition for approval of its acquisition of Grupa Lotos. At the same time, MOL agreed to sell a number of its own petrol stations to PKN Orlen.

ORLEN has already taken over 79 petrol stations in Hungary that operate under the LUKOIL brand and will take over the remaining 64, gradually, by mid-2024. ORLEN is also taking over 39 of MOL’s petrol stations in Slovakia.

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Source: MTI