Lotos may push big investment projects into 2022

Grupa Lotos still assumes the total level of capital expenditures throughout 2021 at the level of approx. PLN 1.4 billion, but it does not exclude that some projects will be moved to 2022, said the executive financial director Łukasz Minuth.

“We still expect a capex of around PLN 1.4bn in 2021, but we do not rule out that some investment projects, for example on the Norwegian Continental Shelf, will be postponed to 2022,” Minuth said during the conference.

In the third quarter of 2021, the capital expenditures of Grupa Lotos amounted to PLN 230 million, and after 9 months they reached the level of PLN 692 million.

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