ORLEN has entered into a contract with bp to secure the supply of 6 million tonnes of crude oil from Norwegian fields in the North Sea over a period of twelve months. This contract is set to fulfill approximately 15 percent of the ORLEN Group’s annual crude oil demand.
The agreement is designed to offer flexibility in supply, with crude oil shipments directed to either the Polish port of Gdańsk or the Lithuanian port of Būtinga, depending on demand. The initial oil tanker under this contract is anticipated to arrive in Gdańsk in September 2024.
Ireneusz Fąfara, president of the ORLEN management board, emphasised the strategic importance of the partnership with bp. “Collaborating with bp, a stable and well-established player, is crucial for diversifying ORLEN Group’s feedstock portfolio. The crude oil acquired through this contract not only comes from geographically proximate North Sea fields but also boasts consistent quality and favourable properties for our refining technologies. This will enhance the economic efficiency of our production facilities. Additionally, we are keen to explore further collaborative opportunities with bp,” Fąfara stated.
Bogdan Kucharski, head of country at bp Poland, highlighted the significance of the agreement for both companies and the broader region. “This agreement to supply ORLEN with Norwegian crude oil is a significant milestone for our business in Poland. It also bolsters energy security for Poland and the wider Central and Eastern European region. Our trading team’s capability to supply a range of North Sea crudes, alongside other types of oil used by ORLEN, positions us well for future collaborations aimed at advancing the energy transition.”
ORLEN sources various oil grades from the North Sea, including Forties and Brent from the UK, and Oseberg, Johan Sverdrup, Troll, Grane, Brent, and Ekofisk from Norway. The company also imports WTI, Bakken, and Mars grades from the United States, as well as crude oil from the Persian Gulf and West Africa, including Forcados and Bonny Light grades, as part of its diversification strategy.
For more information visit www.orlen.pl
