Saudi crude will continue to be supplied to PKN ORLEN refineries
PKN ORLEN will continue to work with Saudi Aramco as a supplier of crude oil to its refineries in Poland, the Czech Republic, and Lithuania. The contract has been extended for another year, until December 31, 2017.
The contract, concluded in May, 2016, provides for an option of automatic renewal for subsequent years if both parties are willing to continue cooperation. The monthly volume to be supplied is approximately 200 Mt. The oil may be processed by PKN ORLEN’s refineries in Poland, the Czech Republic, and Lithuania.
“Cooperation with Saudi Aramco has been most satisfactory for us. The Saudi crude has become part of the key feedstock for our refineries,” said Wojciech Jasiński, President of the PKN ORLEN Management Board. “Moreover, we can see the positive effects of the consistently pursued strategy for diversification of supplies to our refineries, of which the contract with Saudi Aramco is an essential component,” added CEO of PKN ORLEN.
Ensuring stable oil supplies to the refineries is one of PKN ORLEN’s top priorities. Therefore, long-term supply contracts are a vital element of our procurement strategy. At the same time, considering the opportunities offered by the crude oil market, PKN ORLEN does not rule out the possibility of purchasing oil from other sources under spot contracts.
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