PGNiG

Energy
WSE: PGN
Poland

In 2018 CalPERS designated PGNIG as under review. In 2019 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the activities targeted by the Act. CalPERS will continue to assess and/or monitor the company for possible changes in status relevant to the Act.
 

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CalSTRS has initiated the review process multiple times since 2012 but liquidated the security before completing the engagement. In 2015, CalSTRS designated PGNiG as “Being Monitored” and maintained that designation in 2019. 

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As of August 15, 2019, the state of Iowa removed listed PGNiG from its Iran scrutinized companies list.

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PGNiG is listed in the March 1, 2019, Report to the New Jersey Legislature Iran Divestment Act. 

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According to its website, "In connection with media speculation, PGNiG informs that it ceased its activities in the Soumar field in the Islamic Republic of Iran at the end of October 2018, due to the risks arising from reintroducing by the USA sanctions for activity in the Iranian energy sector which took place on November 4, 2018.

The company informed about such an intention in May 2018 – just like many other energy companies at that time. It is necessary to deny any media speculation suggesting that the ending of the Soumar field activity has occurred as a result of the demands of the Iranian side."

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PGNiG has an MOU with NIOC to work on the Lavan Island and Soumar oilfields. CalSTRS has initiated the review process multiple times since 2012 but liquidated the security before completing the engagement. In 2015, CalSTRS designated PGNiG as “Being Monitored” and maintained that designation in 2018.

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"Poland’s dominant gas firm PGNiG has suspended a gas project in Iran because of the risk from U.S. sanctions, the company’s deputy chief executive said. “There is not much we can do about the contract in Iran. Any moment the sanctions will be put in place and nobody wants to take a risk,” Maciej Wozniak of the state-run PGNiG told Reuters. “We can take risks when we are drilling and looking for hydrocarbons, but we will not take risks playing politics,” he said, adding the project consisted of providing technical expertise in gas extraction in Iran." (5/18/2018)

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In line with plans to develop Iran’s oil and gas fields, high-ranking officials of Poland’s state-run gas company PGNiG are expected to meet the National Iranian South Oil Company in February to finalize their ongoing negotiations to increase the recovery rate in the oilfields of Khuzestan Province, NISOC managing director said on Wednesday. “PGNiG is willing to invest in Iran’s oil and gas upstream sector and talks are underway to assign the development of an unnamed field to the company,” Bijan Alipour was also quoted as saying by Mehr News Agency. (January 12, 2017).

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In 2018 the U.S. state of Iowa listed PGNiG as an Iran restricted company rendering PGNiG ineligible for investment and/or state contracting.

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In 2017 the U.S. state of Rhode Island and South Carolina listed PGNiG as an Iran restricted company rendering PGNiG ineligible for investment and/or state contracting.

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In 2016 and 2017 Tennessee used the South Carolina list of "Entities Ineligible to Contract with the State of South Carolina or any Political Subdivision of the State per the Iran Divestment Act of 2014, S.C. Code Ann." as its list of persons it determines engage in investment activities in Iran. PGNIG was included on this list in 2016 and 2017. "Inclusion on this list would make a person ineligible to contract with the state of Tennessee, if a person ceases its engagement in investment activities in Iran, it may be removed from the list."

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"Poland's dominant gas firm PGNiG and the National Iranian Oil Company (NIOC) have signed a letter of intent regarding co-operation on exploring the Soumar oil deposit in Iran, PGNiG said in a statement on Monday." (Reuters, "Poland's PGNiG and Iran set to jointly explore Soumar oil deposit," 11/7/2016).