Saudi Aramco has plans to expand its business across Europe following the Orlen-Lotos merger, which gave it access to the Gdańsk refinery. It promises stable supplies to the Polish market.
Saudi Aramco has acquired 30 percent of the shares of the company that manages the Gdańsk refinery as part of the implementation of the remedies agreed by Orlen with the European Commission to protect the market after the merger with Grupa Lotos in 2022. Aramco, which operates in Poland under the Aramco Fuels Poland brand, also has the right to 50 percent of the products from Gdańsk. It also has a 50 percent stake in a joint venture with BP Europa SE called Air bp Aramco Poland, which provides fuel to six airports in Poland.
“The successful completion of these transactions creates the foundations for the development of new business in Poland and Europe in the oil and gas sector,” explains the Press Office of Saudi Aramco in response to questions from BiznesAlert.pl. “The willingness of European countries to diversify their oil and gas supplies creates new opportunities for downstream investment for Aramco and other major oil producers and exporters,” the Office added.
“Aramco through Aramco Overseas Company B. V. has purchased 30 percent of the shares of the Gdańsk refinery in a joint venture with Orlen and will provide it with up to 45 percent of oil demand. The contract with Orlen was signed in 2016 and developed over the years, culminating in the current long-term agreement of strategic importance from the point of view of security of supply,” the company told BiznesAlert.pl. “Our subsidiary Aramco Fuels Poland wants to contribute to the stability of the Polish energy sector by providing a reliable supply of high – quality fuels,” said Aramco.
In November 2022, Aramco, SABIC and Orlen signed a joint development agreement to assess the technical and economic feasibility of a petrochemical project in Gdańsk,” Aramco told BiznesAlert.pl. “The project will also include a steam cracker and a petrochemical plant,” the company stated. The investments in Poland are intended to cement Aramco’s presence on the European market and allow it to develop its product portfolio as part of the company’s downstream transformation.