Polish fuel leader will not extend Russian oil contractPolish fuel leader will not extend Russian oil contract

PKN Orlen, Poland’s leading fuel company, will not prolong its oil supply contract with Russia’s Rosneft, which expires in January, the company CEO has said.

„Orlen’s long-term contract for Russian oil is expiring in January and we are not extending it,” Daniel Obajtek wrote on Twitter on Saturday.

„For a few years now, Orlen has been establishing global relations and diversifying (supply - PAP) directions,” the CEO added. „Our cooperation with (Saudi petroleum firm - PAP) Aramco is one of the pillars of stable supplies.”

Last week PKN Orlen’s spokesperson, Edyta Olkowicz, announced that the company „will stop fulfilling the other contract for the supply of Russian oil in 2023, as soon as (EU - PAP) sanctions are imposed, which we are prepared for.”

Orlen quit purchases of Russian oil transported on tankers when Russia invaded Ukraine in February 2022.

Olkowicz also said that currently Orlen’s refineries in Poland, the Czech Republic and Lithuania obtained 70 percent of its crude from non-Russian sources, which compares to an almost 100 percent reliance on Russia in 2015.

Under its contract with Rosneft, Orlen receives 300,000 tonnes of crude every month. Under the second contract with Russia’s Tatneft, which expires in December 2024, the Polish company buys 200,000 tonnes of oil a month. (PAP)

jd/emer