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Polish, Saudi oil giants sign deal for refinery partnership

01.12.2022 17:30
Poland's biggest oil refiner PKN Orlen says it has successfully closed three landmark transactions with Saudi Arabia’s Aramco Overseas Company as part of legal procedures following the Polish giant's merger with a smaller local peer.
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PKN Orlen CEO Daniel Obajtek.
PKN Orlen CEO Daniel Obajtek.Photo: PAP/Marcin Obara

The contract includes the sale of a 30-percent stake in Poland’s Lotos refinery as part of “remedial measures” required by the European Union for Orlen’s merger with Lotos.

“The Saudi Arabian oil that will start flowing thanks to that deal offers a chance to completely give up Russian oil deliveries soon,” said energy sector analyst Piotr Maciążek.

"Other than that Poland is teaming up with a new partner who brings new quality to the region," he added.

Michał Owczarek has the story.

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