Integrated
Report 2021
Annual report 2021
Annual report 2020
Annual report 2019
Annual report 2018
Annual report 2017
GRI
TCFD
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PL
The LOTOS Group in 2021
Letter from the President of the Management Board
Letter from the Chairwoman of the Supervisory Board
Key performance factors
About us
LOTOS Capital Group and its surroundings
We are determined by sustainable development
Modernity and efficiency in oil extraction and processing
Products and services
People first
Value chain
Lotos in ESG rankings
Membership in trade organisations and CSR
Awards and honours
Key events in 2021
Strategy
Value creation model
Our capital
The “Stabilisation and Secure Development” strategy
Status of work on the acquisition of Grupa LOTOS S.A. by PKN ORLEN S.A.
Implementation of the strategy in 2021
Financial results
Consolidated statement of comprehensive income
Consolidated statement of financial position
Consolidated statement of cash flows
Consolidated statement of changes in equity
Notes
Market environment and prospects
Changes on the fuel market in 2021
Impact of the COVID-19 pandemic on the global fuel market
Market environment in 2021
Regulatory environment
Outlook
Our activity in 2021
Crude oil refining
Oil refining market and competition in the region
Optimization of oil processing in amid gradual market recovery after the pandemic
Refineries operating in the region
Main products
Volumes of crude oil processing and products
Model refining margin
Supply sources
Suppliers and customers
Domestic sales
Export markets
Exploration and production
Organistation Of The Exploration & Production segment
Competition for the upstream business
Key assets and logistics
Exploration and production activities in Poland
Exploration and production activities in Norway
Exploration and production activities in Lithuania
Key development projects of the exploration & production segment
Environment
Our approach to sustainable development
Our approach to environmental issues
Energy generation and consumption
Materials and waste
Water and effluents
Biodiversity
Climate change strategy
Approach to climate change
Opportunities and risks associated with climate change
Emissions into the atmosphere
Taxonomy
Society
Values of corporate social responsibility
Social responsibility
Relations with local communities
Activities for local communities
Sponsoring activities
Activities of the LOTOS foundation
Human rights in the value chain
Employees
Personnel policy
Employment structure
Occupational health and safety
Diversity management
Remuneration and employee benefits
Development and education
Employee volunteerism
Governance
Corporate governance
Corporate governance standards and scope of application
Governance structure
Ethics
Ethics and combating corruption
Ethical supply chain
Risk management
Risk management model
Key risks identified at the LOTOS Group
Process safety
About the raport
Integrated Report 2021
About us
Strategy
Value creation model
Value creation model
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