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  • Aramco Trading expands collaborations in key European markets by signing Supply Agreement with PKN Orlen, Poland’s leading oil refiner
    édité le 11/04/2019 - Plus de news de "SAUDI ARAMCO" - Voir la fiche entreprise de "SAUDI ARAMCO"


Aramco Trading expands collaborations in key European markets by signing Supply Agreement with PKN Orlen, Poland’s leading oil refiner
Aramco Trading expands collaborations in key European markets by signing Supply Agreement with PKN Orlen, Poland’s leading oil refiner.

Agreement highlights Saudi Aramco’s commitment to the Polish market and its strategy to enhance the integration of its downstream network in Europe.

Saudi Aramco is expanding collaborations in key European markets to produce critical feedstock for industry and essential fuels that meet the needs of the region’s economy.

Aramco Trading, the trading subsidiary of Saudi Aramco, today signed an agreement for the supply of Arabian Crude Oil to Poland’s leading refiner, PKN Orlen, in exchange for a similar volume of high sulfur fuel oil from the Polish refiner. 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.

The agreement was signed this afternoon by President & CEO of Aramco Trading, Mr. Ibrahim Al-Buainain and Executive Director of Trading Grzegorz Markiewicz from PKN Orlen. It was signed in the presence of Saudi Aramco CEO Amin H. Nasser and PKN Orlen CEO Daniel Obajtek at a ceremony hosted by Saudi Aramco at its Dhahran headquarters. The agreement paves the way for a further expansion of Saudi Aramco’s well established partnership and collaboration strategy while diversifying PKN’s crude oil supplies and securing new outlets for their products.

The increasing number of strategic partnerships established across refining, chemical and marketing activities reinforce Saudi Aramco’s downstream growth ambitions and bolsters its successful efforts to span the length of the value chain. The increased European presence also positions Saudi Aramco favorably to supply critical feedstock to the European market.

In addition, the agreement consolidates Saudi Aramco’s efforts to earmark new strategic outlets for crude oil enabling the company to accommodate a range of future market positions, as well as underpinning an optimal balance of geographic exposure between Asia, Europe, and North America.

PKN Orlen has a pre-existing crude oil supply agreement in place with Aramco Trading’s parent company, Saudi Aramco, which provides 74MBD Arabian Crude Oil to Poland’s premier refiner.

About Saudi Aramco

Saudi Aramco is a leading global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.
“We are counting on the long-standing relationship between Saudi Aramco and SABIC on one side, and KBR on the other, to develop this preliminary engineering package for the world-class complex.” says Fahad E. Al-Helal, vice president of Project Management.

About PKN ORLEN

PKN ORLEN is a Polish company and one of Central Europe’s largest refiners of crude oil. We specialize in processing crude oil into world-class unleaded petrol, diesel, heating oil, and aviation fuel as well as plastics and other petroleum related products.

We hold licences for onshore and offshore oil and gas exploration throughout the country. One of our shared priorities is to appraise and exploit natural gas from unconventional plays. Our adopted development direction is to transform PKN ORLEN into a multiutility complex with a foothold in the power generation business.


Origine : Communiqué SAUDI ARAMCO

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