Polish energy group ORLEN will take over KUFPEC Norway, the Norwegian division of Kuwait's KUFPEC, in a deal valued at $445 million. The move will increase ORLEN's natural gas production in Norway by a third to more than four billion cubic metres a year, making it the fifth largest producer in Norway.
In line with a strategy approved earlier this year, ORLEN plans to invest PLN 90 billion in expanding oil and gas production by the end of the decade.
How do you see ORLEN's position as it expands its presence in the European market?
Personally, I find ORLEN very interesting, especially with regard to paying 8.5% to shareholders in the form of an annual dividend. With the expanding market presence, this payout should be well covered and therefore I don't think there is any threat of a dividend cut.
It's certainly an interesting company and the dividend is beautiful. However, I want to include US stocks from this sector in my portfolio first and then possibly look at the Europe one.
I find Orlen an interesting player in Europe, definitely consider this company when making your decision.
If I focus on Europe, Orlen will definitely be number one.
The dividend is great, the company works nicely, I am a customer myself, so I see no reason not to go for it. :)
To put it nicely, I'll check out some broker who trades on the Polish stock exchange and jump right in.
I think it's a great choice.
Sounds good.