Receive our newsletter – data, insights and analysis delivered to you
  1. News
January 22, 2020

PKN Orlen increases crude oil purchase from Saudi Aramco

Polish oil refiner PKN Orlen is to increase its monthly purchase of crude oil from Saudi Aramco from 300,000 tonnes to 400,000.

By Ilaria Grasso Macola

Polish oil refiner PKN Orlen is to increase its monthly purchase of crude oil from Saudi Aramco from 300,000 tonnes to 400,000.

The company said that the reason behind the decision was diversifying the range of suppliers and strengthening relations with Saudi Aramco, with which it has been partnered since 2016.

PKN Orlen president of the management board Daniel Obajtek said: “We are strengthening our position in the Gulf region, strengthening our relations with our proven partner from Saudi Arabia.”

“This is another step on the road to securing the operation of our installations throughout the group and increasing Poland’s energy security.”

The company said diversifying the supply has led to an increase in crude oil coming from outside of Russia.

The Kremlin has recently been in the news because of its oil-related tensions with Belarus that resulted in Moscow suspending and re-establishing supplies at the beginning of the month.

Content from our partners
How the North of Tyne region is leveraging its legacy to define its future
Q&A with Chevron Lubricants’ Paul Sly, global industrial OEM specialist, and Nathan Knotts, global brand technical manager
The important role of antifoam agents in oil-gas separation and amine treating

According to Warsaw-based consultancy firm Esperis, PKN Orlen’s choice to diversify its suppliers is not directly related to the regional situation but is part of a broader economic plan.

Esperis oil and gas analyst Mateusz Kubiak told Offshore Technology: “PKN Orlen’s decision to increase purchases from Saudi Aramco represents part of a broader strategy of the Polish company aimed at diversifying crude oil supplies, expanding ties with partners from outside Russia. That is not only Saudi Arabia but other countries too, such as Angola and Nigeria.

“PKN’s decision should not be viewed as a result of current oil crisis between Russia and Belarus as there is no direct connection between these issues, as Russian oil supplies to Poland are being performed on market basis, differently from the case of Belarus.”

Offshore Technology has approached PKN Orlen and Saudi Aramco for comment.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU