Orlen Suspends Olefins III Project Amid Cost Overruns and Irregularities

Post Views: 348 Suspends Olefins III Project Poland’s Orlen Suspends Costly Olefins III Project, Shifts Focus to New Chemicals Poland’s largest oil refiner, Orlen, has suspended its Olefins III petrochemical project in Płock after an internal review. The original budget of PLN 8.3 billion ($2.04 billion) surged to PLN 25 billion ($6.16 billion) by 2023. Further assessments indicated costs could climb to PLN 51 billion ($12.56 billion). To save PLN 15 billion ($3.69 billion), Orlen decided to halt the project and redirect resources to more viable initiatives.   Internal Review Exposes Mism...