Solidarity tax on extraordinary profits. PKN Orlen on the list of companies

Announced by the European Commission solidarity tax on windfall profits will have a very limited impact on European gas and fuel companies, and PKN Orlen, Repsol and OMV can feel it the most – believe analysts of the Fitch rating agency.

In addition to the largest Polish multi-energy concern, there are concerns from Spain and Austria. Both deal with crude oil processing and distribution of petroleum products.

Fitch experts complete the list of companies that will be most affected by the solidarity tax with TotalEnergies and CEPSA. The first is a French petrochemical company and the second is a Spanish oil and gas company.

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Fitch analysts note, however, that the additional tax will not affect the current ratings of oil and gas companiesas they generate healthy cash flow in conditions of very high raw material prices.

According to the proposals of the European Commission, a temporary solidarity tax will be imposed on the extraordinary profits of companies that are based in the European Union and operate in industries including refineries, oil, gas and coal.

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