BP Signs Crude Oil Supply Deal with Orlen

Energy giant BP has secured a 12-month contract to supply Polish state-owned refiner Orlen with 6 million tonnes of crude oil per year from its North Sea fields, covering approximately 15% of Orlen's total feedstock requirements. Deliveries will be routed to either the Polish port of Gdańsk or the Lithuanian port of Būtinga, with the first shipment expected in September 2024. This agreement is part of Orlen's strategy to diversify its oil supply, which currently includes sources from the UK, Norway, the US, the Persian Gulf, and West Africa. Both companies have expressed interest in future collaborations to advance energy transition initiatives. The deal follows a previous agreement between the two companies and underscores Orlen's ongoing efforts to enhance the efficiency of its processing sites while reducing reliance on Russian crude. Orlen's contract with Rosneft for Russian crude is set to expire in mid-2025.