ORLEN has signed a contract with bp for the supply of 6 million tons of crude oil from Norwegian deposits in the North Sea. This will cover about 15 percent of ORLEN Group’s annual demand for this resource. The agreement has been concluded for a period of twelve months.
The contract is structured to provide ORLEN Group with supply flexibility, and shipments of crude oil will, depending on demand, be directed to the port in Gdansk or the Lithuanian port in Butinge. The first tanker with contracted oil will call at the port of Gdańsk in September 2024.
“Cooperating with bp, a stable and recognized partner, is an important element of diversifying ORLEN Group’s raw materials portfolio. Importantly, the oil that we will obtain under this contract is not only stable in terms of quality and comes from geographically close North Sea deposits, but its properties allow for good yields and are well suited to the processing technology in our refineries. This in turn translates into the economy of operation of production plants. In the course of our cooperation with bp, we will also closely examine other potential prospects for joint projects”, says Ireneusz Fąfara, President of ORLEN’s Management Board.
“The supply agreement for ORLEN Group’s supply of crude oil from Norwegian deposits is an important business step for bp in Poland. It also helps to increase the energy security of Poland and the entire Central-Eastern Europe region. Thanks to our trading team, we can provide not only raw material from the North Sea, but also gain access to many other types of oil used by Orlen. We also count on cooperation with ORLEN over future projects aimed at accelerating the energy transition,” emphasizes Bogdan Kucharski, President of bp Poland.
From North Sea deposits, ORLEN receives Forties and Brent crude oil types from the UK, as well as Oseberg, Johan Sverdrup, Troll, Grane, Brent, and Ekofisk from Norway. It also procures WTI, Bakken, and Mars types mined in the United States. As part of its diversification, the company also accepts deliveries of oil from the Persian Gulf, as well as Forcados and Bonny Light brought in by ORLEN from West Africa.
Source: https://managerplus.pl/orlen-zawiera-umowe-z-bp-na-dostawy-6-mln-ton-ropy-z-norweskich-zloz-na-morzu-polnocnym-52723
