Aramco,PKN Orlen to Exchange Fuels

摘要

Aramco Trading has agreed to supply Poland’s PKN Orlen with crude oil in exchange for high-sulfur fuel oil(HSFO)under a deal that’s set to help the Polish refiner diversify away from Russian feedstock and the Saudi trader find new outlets for its oil.In recent years,Orlen has broadened its supply base by buying crude from countries including Saudi Arabia,the United Arab Emirates,Nigeria and Angola and now imports 30% of its refinery feedstock from non-Russian sources,compared to 10% in 2007-13(IOD Nov.12’18).Orlen,Eastern Europe’s largest refiner,already has a deal in place with Aramco Trading’s parent,Saudi Aramco,from which it receives 74,000 b/d of crude.”The agreement demonstrates Saudi Aramco’s strategy to place set volumes of crude oil across different geographies,maintaining a healthy balance between third party customers and affiliated outlets,”Aramco Trading said in a statement.