ORLEN and bp sign oil supply contract
ORLEN has signed a contract with bp for the supply of 6 million tonnes of crude oil from Norwegian fields in the North Sea over twelve months. This will cover about 15 per cent of the annual demand of the entire ORLEN Group for this feedstock, according to bp's release.
The agreement is structured to provide ORLEN Group flexibility of supply, with crude oil cargoes directed to the Polish port of Gdańsk and the Lithuanian port of Būtinga, depending on demand.The first oil tanker as part of the contract is expected to arrive in Gdańsk in September 2024.
"Through our trading team we are able to supply not only North Sea crudes but also access many of the other types of oil ORLEN uses. We also look forward to working with ORLEN on future opportunities to advance the energy transition,” - says Bogdan Kucharski, head of country, bp Poland.
From the fields in the North Sea, ORLEN receives oil grades such as Forties and Brent from the UK, and Oseberg, Johan Sverdrup, Troll, Grane, Brent and Ekofisk from Norway. It also receives volumes of WTI, Bakken and Mars grades produced in the United States. As part of its diversification, the company also receives oil supplies from the Persian Gulf and Forcados and Bonny Light crude oil imported by the company from West Africa.
