Free Trial

PKN Orlen Terminate Supply Contract with Russia's Tatneft

OIL

PKN Orlen has terminated the oil supply contract with Russia's Tatneft without paying any penalties according to the chief executive on Tuesday.

  • The Tatneft contract was terminated a few days ago after Russia halted supplies of oil to Poland in February. Another long term contract with Rosneft expired at the end of 2022.
  • Poland had pledged to halt Russian oil supplies by the end of 2022 but the agreement with Tatneft was due to end in 2024.
  • PKN Orlen now sources oil from Western Africa, the Mediterranean, the Gulf and the Gulf of Mexico.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.