January 21, 2020 / 10:41 AM / a month ago

Poland's PKN to increase monthly oil purchases from Saudi Aramco

FILE PHOTO: The logo of PKN Orlen, Poland's top oil refiner, is pictured at a petrol station in Warsaw, Poland April 25, 2019. REUTERS/Kacper Pempel/File Photo

WARSAW (Reuters) - Polish oil refiner PKN Orlen, said on Tuesday it would increase monthly crude oil purchases from Saudi Aramco to 400,000 from 300,000 tonnes as part of its efforts to diversify supply.

Poland’s biggest oil refiner, which buys most of its oil from Russia via pipeline, has been receiving oil from Saudi Aramco since 2016.

“This is another step on the way to secure work of our installations within the group and to increase Poland’s energy security,” PKN Orlen Chief Executive Daniel Obajtek said in a statement.

The company said that the Arabian Light crude will be refined in its facilities in Poland, Lithuania and the Czech Republic.

Seaborne oil supplies from sources other than Russia helped PKN Orlen and its smaller rival Lotos keep their refineries operating in April and May when deliveries of Russian oil via the Druzbha pipeline were suspended due to contamination.

PKN said that since the start of 2018 it has concluded spot purchases of crude oil from Angola, Nigeria, Norway and the United States.

Reporting by Agnieszka Barteczko; editing by Jason Neely and Louise Heavens

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