Russian oil. Obajtek says what’s next for Orlen’s contract
Orlen’s contract with Rosneft expires in January 2023. Under this agreement, Rosneft provides Orlen with 300,000 tons of crude oil monthly. Under the second contract with Tatneft, the Polish company buys 200 thousand. tons of oil per month, and the contract with this Russian supplier ends in December 2024.
“Orlen’s long-term contract expires in January Russian oilwhich we will not extend. As a result, about 90 percent. of the processed oil will come from outside Russia. For several years, Orlen has been establishing global relations, diversifying directions. One of the pillars of stable supplies is cooperation with Aramco‘ wrote Obajtek on Twitter.
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As we recently wrote in Business Insider, Orlen still imports large amounts of gas from Putin’s country and processes them into fuel for Polish drivers. In the last, third quarter, he earned over a billion zlotys on the price difference between the Russian oil and the one quoted on the London market.
Last week, PKN Orlen spokeswoman Edyta Olkowicz announced that Orlen would not extend the long-term contract, which expires in January 2023. However, the only existing contract for the supply of Russian oil in 2023 will cease to be implemented when the sanctions are introduced, “what we are prepared for” .
See also: The embargo on oil from Russia is in effect. It can end with traffic jams on the seas and oceans
As the president of PKN Orlen emphasized earlier, the company has no legal right to terminate long-term contracts for the supply of Russian oil, and this is only possible if sanctions are imposed on supplies of raw material from Russia.
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As she reminded Orlen resigned from Russian oil supplies by sea at the beginning of Russia’s armed attack on Ukraineand many leading European manufacturers have done the same.
“Currently, 70 percent of the raw material for all refineries of the Orlen Group in Poland, the Czech Republic and Lithuania comes from directions alternative to Russia, and still in 2015, almost 100 percent to the refinery of the Orlen Group. oil came from Russia” – said the spokeswoman of PKN Orlen.
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