GDANSK – Polish state-owned refiner Orlen will receive 6 metric tons of oil from British energy group BP (NYSE: BP) under a year-long agreement, it said on Monday.
The deliveries of North Sea oil are expected to cover about 15% of Orlen’s requirements and both companies are open to future cooperation on joint projects, the Polish refiner said.
“We count on cooperation with Orlen on future projects aimed at accelerating energy transformation,” BP Polska CEO Bogdan Kucharski said in a statement.
Poland generates most of its electricity from coal but plans to reduce its share in power production due to rising carbon emission costs.
The Polish refiner is diversifying its oil portfolio with supplies coming from deposits in Great Britain, Norway, the United States, the Persian Gulf, and West Africa.
The company uses Russian crude in its Czech refineries under a contract with Rosneft for five million tons a year that is set to expire in the middle of 2025.
The first tanker with contracted oil from BP (NYSE: BP) is scheduled to reach Poland in September.
(Source: Reuters)
