Free Trial

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.

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.