PKN Orlen Substitutes Russian Urals With Saudi, North Sea, US Crude

PKN Orlen pivoted most of its oil imports away from Russian crude and replaced it with Arab Light crude from Saudi Arabia, Johan Sverdrup crude from the North Sea and WTI, Grzegorz Markiewicz, executive director of oil and gas trading at PKN Orlen said.

• Orlen replaced Russian oil mainly with the Arab Light grade from Saudi Arabia, Johan Sverdrup crude from the North Sea and West Texas Intermediate, which “is a great grade used to blend with other oils, the main reason why you see so much WTI going to Europe,” Markiewicz said.
• Orlen still relies on Russian Urals crude for 7% of the oil it processes, down from 30% before the war. Its refineries in Poland and Lithuania have been completely weaned off of Russian supplies while the plant in the Czech Republic is still receiving some shipments via the southern leg of the Druzhba pipeline.
• “Refinery margins are still good and we are taking full advantage of that,” he said.
• In late-Feb, Poland has unexpectedly stopped receiving oil via the Druzhba pipeline from Russia. Flows previously accounted for 10% of Polish oil imports.