The state-owned company has concluded a historic agreement with Exxon Mobil for the supply of 1 million tons of crude oil from the USA. This is the first futures contract of this type in history.
The contract provides for the supply of a total of approx. 1 million tonnes of crude oil per year for the needs of refineries in Poland, the Czech Republic and Lithuania.
As emphasized by PKN Orlen, such a contract was concluded as the first Polish company in history.
WTI (West Texas Intermediate) crude oil increases yields, the company informs. It is characterized by very good density and sulfur content parameters, which makes it possible to obtain, among others, a large amount of the so-called white products such as gasoline or diesel. The first PKN Orlen term contract for crude oil supplies from the USA (description)
“As announced, we are continuing the process of diversifying oil supplies, expanding our portfolio with an additional volume of American raw material,” said the president of PKN Orlen, Daniel Obajtek.
Obajtek also recalled that over the last three years the Polish concern has strengthened relations with the world’s largest oil producers, including Saudi Aramco. “We also secured new directions of supplies, for example from West Africa. In this way, we also increased the energy security of the entire region, reducing dependence only on one supplier” – added the president.
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