Poland's Refiner PKN to Buy More Crude Oil from Saudi Aramco
03.25.2019 By Ricardo Perez - NEWS

March 25, 2019 [Reuters] – Poland’s biggest refiner PKN Orlen will receive up to 800,000 tonnes of crude oil from Saudi Aramco Products Trading company in six spot deliveries between May and October as part of its supply diversification plan, PKN said on Friday.

 

On top of the crude oil delivery deal, the Saudi company agreed to buy heavy heating oil from PKN’s unit in Lithuania.

We test various supply options and at the same time build strategic partnership with the supplier from Saudi Arabia,” PKN Orlen Chief Executive Daniel Obajtek was quoted as saying in a statement.

PKN Orlen, which buys most of the oil it refines from Russia via pipelines, has taken steps to reduce the reliance. It already has a long-term deal with Saudi Aramco on deliveries of 300,000 tonnes of crude per month.

Currently, around 30 percent of oil refined at PKN comes from sources other than Russia.

—————————-

Get a 30-Days Free Trial to Access Insightful Data on 4,800 Tank Terminals.

10-year Treasury yield hovers close to highest level since April as investors await key jobs data
01.10.2025 - NEWS
U.S. Treasury yields hovered close to its highest level since April on Friday, as investo... Read More
Union dockworkers, port employers announce tentative deal at East Coast and Gulf ports
01.09.2025 - NEWS
State of Freight The tentative agreement is on all items for a new six-year mas... Read More
China's property market is expected to stabilize in 2025 — but stay subdued for years
10.30.2024 - NEWS
China’s struggling real estate sector may not start turning around until the sec... Read More
Harris will offer an alternative to Trump-era politics in closing argument speech
10.29.2024 - NEWS
1234534234 Democratic presidential nominee U.S. Vice President Kamala Harris walks to bo... Read More