What goes on in Poland on the 10th of March.
Orlen will import one million tonnes of Exxon crude oil from the USA to Poland and the region
PKN Orlen informs that it has secured the supplies of American crude oil under a futures contract. The agreement with Exxon Mobil provides for the supply of a total of approximately 1 million tonnes of crude within one year of the term of the agreement for the needs of the Orlen Group refineries in Poland, the Czech Republic and Lithuania.
– As announced, we are continuing the process of diversifying oil supplies, expanding our portfolio with an additional volume of American raw material. From the very beginning, my priority was and still is the stable supply of all refineries of the ORLEN Group, and consequently uninterrupted fuel supplies in the region. Over the past three years, we have successfully strengthened relations with the world’s largest oil producers, including Saudi Aramco, and secured new supply routes, for example from West Africa. In this way, we also increased the energy security of the entire region, reducing dependence on only one supplier – said Daniel Obajtek, President of PKN Orlen.
Orlen reports that the forward contract for the purchase of American crude oil includes the result of PKN Orlen’s analysis of the complementarity of various types of crude oil with the technological capabilities of the Company’s refinery. The purchase of light and sweet crude oil, which is WTI (West Texas Intermediate), increases the yield. 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.
According to Orlen’s announcement, the ORLEN Group’s refineries are currently supplied with crude oil on the basis of long-term contracts with suppliers from Saudi Arabia and Russia, as well as spot deliveries, e.g. from the North Sea, Angola or Nigeria.
Poland wants to convince the European Commission to recognize natural gas as a transition fuel
In Brussels, work is underway on new regulations for the classification of energy investments. Polish MEPs are trying to include natural gas as a transition fuel in the transformation process. They want to convince the European Commission to do so, says the Polish Press Agency (PAP).
MEPs emphasize that gas already plays an important role in balancing energy production from unstable renewable sources, reducing CO2 emissions and ensuring the reliability of the energy system. – Properly designed EU funding mechanisms should enable a rapid conversion of coal to gas as a transitional solution where other options are limited, close the investment and technology gap and help regions currently dependent on coal in their transformation in the coming years, reads the MEP’s letter.