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Orlen Reports Rise in Q1 Crude Refining, Hydrocarbon Output Declines

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Polish energy company Orlen on Thursday reported Q1 crude oil refining throughput of 9.37 million tonnes, 1% higher than 9.24 million tonnes reported in the corresponding period last year.

For the quarter ended March 31, Orlen's hydrocarbon output stood at 18.1 million barrels of oil equivalent, 5% lower than the year-ago period.

The group reported a Q1 refining capacity utilization rate of 89% in Q1, which compares with 88% in the year-ago period.

The company's share of natural gas production for Q1 stood at 75%, up one percentage point from last year, while wholesale sales rose 22% year-on-year to 89.2 terawatt hours for the same period.

In Q1, electricity production stood at 5.6 terawatt hours, 10% higher than the corresponding year-ago period.

During the quarter, the company reported discoveries in the Sissel and Frida Kahlo fields in Norway and added two new liquified natural gas carriers in its fleet to take the total to 8.

In Q1, the aggregate year-on-year impact of changes in sales volumes was 1.38 billion Polish zloty ($378.21 million), the company said.

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