In 2012, Poland’s top refiner PKN Orlen plans to intensify drilling for shale gas, continue exploring for crude oil and start construction on its planned zł.1.5 billion, 450-500 megawatt gas-fired power plant project in Włocławek.

Upon releasing its full-year results last week, the firm admitted that 2011 had been a difficult year, with low refining margins, surging oil prices and depreciation of the złoty hitting the company’s performance. While the firm pocketed zł.3.7 billion from the sale of its shares in Polkomtel, its refining segment was barely profitable, and its retail segment’s operating profit dropped nearly by half.