2. Composition of the Group and its changes
The LOTOS Group comprises Grupa LOTOS S.A. (the Parent), a number of production, service and trading companies which are direct or indirect subsidiaries of Grupa LOTOS S.A., and one foundation.
Below is presented key information on the Group entities, as well as the Group’s ownership interests as at December 31st 2016, which did not change relative to December 31st 2015.
| Name | Registered office |
Description of business | Group's ownership interest |
|---|---|---|---|
| Parent | |||
| Downstream segment | |||
| - Grupa LOTOS S.A. | Gdańsk | Manufacturing and processing of refined petroleum products (mainly fuels) and their wholesale | Not applicable |
| Fully-consolidated direct subsidiaries | |||
| Upstream segment | |||
| - LOTOS Petrobaltic S.A. (parent of another group: LOTOS Petrobaltic Group) |
Gdańsk | Acquisition of crude oil and natural gas deposits, extraction of hydrocarbons | 99.99% |
| Downstream segment | |||
| - LOTOS Paliwa Sp. z o.o. | Gdańsk | Wholesale and retail sale of fuels and light fuel oil, management of the LOTOS service station network | 100.00% |
| - LOTOS Oil Sp. z o.o. | Gdańsk | Manufacturing and sale of lubricating oils and lubricants, sale of base oils | 100.00% |
| - LOTOS Asfalt Sp. z o.o. | Gdańsk | Manufacturing and sale of bitumens | 100.00% |
| - LOTOS Kolej Sp. z o.o. | Gdańsk | Railway transport | 100.00% |
| - LOTOS Serwis Sp. z o.o. | Gdańsk | Maintenance of mechanical and electric operations and controlling devices, overhaul and repair services | 100.00% |
| - LOTOS Lab Sp. z o.o. | Gdańsk | Laboratory testing | 100.00% |
| - LOTOS Straż Sp. z o.o. | Gdańsk | Fire service activities | 100.00% |
| - LOTOS Ochrona Sp. z o.o. | Gdańsk | Security services | 100.00% |
| - LOTOS Terminale S.A. (parent of another group: LOTOS Terminale Group) |
Czechowice-Dziedzice | Storage and distribution of fuels | 100.00% |
| - LOTOS Infrastruktura S.A. (parent of another group: LOTOS Infrastruktura Group) |
Jasło | Storage and distribution of fuels; renting and operating of own or leased real estate | 100.00% |
| - LOTOS Gaz S.A. w likwidacji (in liquidation) | Kraków | Dormant | 100.00% |
| Non-consolidated direct subsidiaries (1) | |||
| - Infrastruktura Kolejowa Sp. z o.o. | Gdańsk | Dormant | 100.00% |
| - LOTOS Foundation | Gdańsk | Socially beneficial activity within the scope of public tasks defined in the Act on Public Benefit and Volunteer Work; the foundation does not conduct any business activity | 100.00% |
| Fully-consolidated indirect subsidiaries | |||
| Downstream segment | |||
| LOTOS Infrastruktura Group | |||
| - RCEkoenergia Sp. z o.o. | Czechowice-Dziedzice | Production and distribution of electricity, heat and gas | 100.00% |
| LOTOS Terminale Group | |||
| - LOTOS Biopaliwa Sp. z o.o. | Czechowice-Dziedzice | Production of fatty acid methyl esters (FAME) | 100.00% |
| Upstream segment | |||
| LOTOS Petrobaltic Group | |||
| - LOTOS Exploration and Production Norge AS | Norway, Stavanger | Crude oil exploration and production on the Norwegian Continental Shelf, provision of services incidental to oil and gas exploration and production | 99.99% |
| - Aphrodite Offshore Services N.V. | Curaçao | Sea transport services (dormant) | 99.99% |
| - B8 Sp. z o.o. | Gdańsk | Support activities for extraction and quarrying operations | 99.99% |
| - B8 Spółka z ograniczoną odpowiedzialnością BALTIC S.K.A. |
Gdańsk | Crude oil and natural gas exploration and production | 99.99% |
| - Miliana Shipholding Company Ltd. (parent of another group: Miliana Shipholding Group) |
Nicosia, Cyprus | Storage and transport of crude oil, other sea transport services | 99.99% |
| - Technical Ship Management Sp. z o.o. (parent of another group: Technical Ship Management Group) |
Gdańsk | Sea transport support activities. ship operation advisory services | 99.99% |
| - SPV Baltic Sp. z o.o. | Gdańsk | Provision of sea transport and related services | 99.99% |
| - Miliana Shipmanagement Ltd. | Nicosia, Cyprus | Provision of sea transport and related services | 99.99% |
| - Miliana Shipping Group Ltd. (parent of another group: Miliana Shipping Group Group) |
Nicosia, Cyprus | Management of own assets | 99.99% |
| - Bazalt Navigation Co. Ltd. | Nicosia. Cyprus | Ship chartering | 99.99% |
| - Granit Navigation Company Ltd. | Nicosia. Cyprus | Ship chartering | 99.99% |
| - Kambr Navigation Company Ltd. | Nicosia. Cyprus | Ship chartering | 99.99% |
| - St. Barbara Navigation Company Ltd. | Nicosia. Cyprus | Ship chartering | 99.99% |
| - Petro Icarus Company Ltd. | Nicosia. Cyprus | Ship chartering | 99.99% |
| - Petro Aphrodite Company Ltd. | Nicosia. Cyprus | Ship chartering | 99.99% |
| - AB LOTOS Geonafta (parent of another group: AB LOTOS Geonafta Group) |
Lithuania, Gargždai | Crude oil exploration and production, drilling services, purchase and sale of crude oil | 99.99% |
| - UAB Genciu Nafta | Lithuania, Gargždai | Crude oil exploration and production | 99.99% |
| - UAB Manifoldas | Lithuania, Gargždai | Crude oil exploration and production | 99.99% |
| - Energobaltic Sp. z o.o. | Władysławowo | Production of electricity, heat, LPG and natural gas condensate | 99.99% |
(1) The companies were excluded from consolidation due to immateriality of the amounts disclosed in their financial statements as at December 31st 2016 (IFRS 10 Consolidated Financial Statements).
For information on the Group’s interests in equity-accounted joint ventures, see Note 14.