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PKN Orlen To Buy Oil From Norway

OIL

PKN Orlen will be buying a total of 6mn tons of crude oil for one year from Norwegian deposits in the North Sea for its refineries, the firm said.

  • The first shipment is scheduled for late-August/early-September which will be deliveries to Orlen’s terminals in Gdansk and Butinge.
  • This indicates further efforts by Poland to replace Russian crude oil imports after the country had pledged to halt Russian supplies by the end of 2022.
  • Poland has been replacing Russian crude oil flows with new sources from Western Africa, the Mediterranean, the Gulf and the Gulf of Mexico.
  • In April Orlen terminated its oil supply contract with Russia’s Tatneft which was originally scheduled to end in 2024.
Energy BulletsCommodities
Energy BulletsCommodities

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