The contract, which spans a year, encompasses approximately 15 percent of the Polish group’s total demand for oil, Obajtek said. The agreement also signifies a step forward in the company's efforts to diversify its oil sources, as it actively avoids relying on Russian oil.
Obajtek emphasized that the collaboration between the two companies may extend beyond the initial duration. "We believe that establishing some of the supplies through term or long-term contracts is necessary. After a year, we will assess the state of this cooperation," Obajtek stated.
The ports in Gdańsk in Poland, and Butynga in Lithuania will serve as delivery points for the contracted oil, Obajtek said. The first scheduled deliveries are expected to commence in August.
The oil supplied under the contract will be sourced from fields located in the North Sea. Orlen highlights this agreement as another strategic move in its ongoing endeavors to diversify its supply chain. The company currently imports crude oil from various directions, including West Africa, the Mediterranean Sea, the Persian Gulf, and Mexico.
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Source: IAR