Energy Security as a Premise for Mergers and Acquisitions on the Example of the Multi-Energy Concern PKN Orlen in the Face of the Challenges of the 2020s

Abstract

A concern for ensuring energy security is particularly important in the 2020s, a decade significantly marked by economic and political uncertainty: the coronavirus pandemic, the Russian-Ukrainian war, and inflation turning into stagflation in many markets. Additionally, the national and international climate policy promoting the acquisition of energy from non-renewable sources is only a part of the problem that forces a revision of the direction and degree of diversification of energy sources. States, bearing in mind the inevitability of change, in order to maintain energy security, should not only accurately read these phenomena but also effectively prevent them. One of the available solutions is to build a multi-energy concern to ensure energy independence through diversified production and distribution of electricity and non-renewable fuels. To this end, a large international entity centred around the PKN Orlen group has existed in Poland for several years. The construction of this holding is based on M&A transactions, as effective mechanisms for long-term management, and focused around complementary, in terms of economic activity, market entities—Energa, Lotos and PGNiG. This article focuses on the assessment of the phenomenon of capital concentration in M&A transactions by PKN Orlen, with particular emphasis on the changes in the shaping of energy security in the near future and also on the basis of the directions resulting from government guidelines and policies.

Energy Security Assessment Based on a New Dynamic Multi-Criteria Decision-Making Framework

“…On the other hand, many countries improved their rankings, and the greatest benefits from the methodological changes were achieved by China (from 8-10 to 3-5), Denmark (from 5, 6 to 1, 2), France (from 14, 15 to 7-9) and the United Kingdom (from 8-12 to 1-5). The position was slightly less improved for Brazil (from 13 to 7-12), Italy (from 18-21 to 15-17), Japan (from 22 to 20), Spain (from 16-19 to [11][12][13][14] and Turkey (from 19-21 to 15-19). In the case of the remaining countries, there were very little or no changes in their positions held.…”

“…In such a dynamically changing political and economic environment, states should accurately read the changes taking place and effectively prevent threats to energy security [14]. Therefore, measuring energy security with the use of appropriate methods and without ignoring various aspects and multidimensional interdependence is of critical importance, enabling an objective assessment using reliable numerical indicators [15].…”

A Model for Streamlining Benchmarking in Sustainable Development of Industries

“…Solutions must accept changes in the market, but at the same time trigger the introduction of new approaches to work and the associated reorganization of companies. The main factors that cause changes in the market are the growing use of modern information technology [1,2], the explosion of new knowledge, unions, and information resources [3,4], the globalization and internationalization of development, production, trade, and business [5][6][7], the rapid changes in product ranges, the diversification of production, changes in company portfolios, mergers and bankruptcies [8,9], and discoveries, inventions, technologies, and business opportunities in new market segments [10,11].…”