It’s already our ninth time publishing the Integrated Annual Report of the LOTOS Group, recapitulating the activities of our organisation in year 2017. This publication brings closer the information about the modes of functioning of the LOTOS Group, its business model, strategy, value creation process and financial results, as well as achievements from the perspective of all the capitals involved, but which also describes risks and impact of the individual stakeholder groups.
Since the beginning of our data reporting practice, we have been doing it, convinced that the transparency of the activities undertaken by us is the crucial issue in developing our business further and further. The process of collecting and issuing pertinent information is also an important part of the LOTOS Group business strategy, as well as the CSR strategy, which presuppose the active dialogue with its stakeholders.
The information included in the report refers to the period from 1 January to 31 December 2017 and describes the state as at the end of the year. In isolated cases, marked in the report specifically, the information refers also to other periods. Reporting is managed on an annual basis. The last Integrated Annual Report of the LOTOS Group was published in 2016.
The report for year 2017, apart from the Grupa LOTOS S.A., covers also the direct, wholly-owned subsidiaries:
- LOTOS Upstream Sp. z o.o.
- LOTOS Petrobaltic S.A.
- LOTOS Oil Sp. z o.o.
- LOTOS Asfalt Sp. z o.o.
- LOTOS Serwis Sp. z o.o.
- LOTOS Paliwa Sp. z o.o.
- LOTOS Lab Sp. z o.o.
- LOTOS Infrastruktura S.A.
- LOTOS Terminale S.A.
- LOTOS Kolej Sp. z o.o.
- LOTOS Ochrona Sp. z o.o.
- LOTOS Straż Sp. z o.o.
Moreover, given their particular importance, nature of business and impact on the closest neighbourhood, for the purposes of reporting some of the above-mentioned indicators, following indirectly wholly-owned subsidiaries were included in the data collecting process:
- AB LOTOS Geonafta
- LOTOS Biopaliwa Sp. z o.o.
- RCEkoenergia Sp. z o.o.
- Energobaltic Sp. z o.o.
- LOTOS Exploration and Production Norge AS.*
- SPV Baltic Sp. z o.o.
* The scope of reporting for LOTOS E&P Norge AS company is limited, compared to others, given the fact that this company is a licensee, therefore all the environmental issues (and other operational matters) are reported by the operators.
This year’s Integrated Annual Report of the LOTOS Group reflects the guidelines recommended by IIRC (International Integrated Reporting Council),
guidelines for the international reporting standards Global Reporting Initiative (GRI G4) and the corresponding supplement for the fuel and gas industries ‘GRI 4 Sector Disclosures Oil & Gas’. The report also takes into account the directions of the latest EU legislation regarding the disclosure of non-financial and diversity information.