The Polish concern PKN Orlen has reduced the share of Russian raw materials used in refineries to 30%.

Polish concern Orlen

This was announced by the head of the board of the company, Daniel Obaitek, reports the railway magazine Railway Supply with reference to interfax.ru.

“On the day the war began (the Russian Federation began a full-scale invasion of the territory of Ukraine on February 24 – ed.), we stopped purchasing sea cargoes of Russian oil and ordered 28 tankers with oil in alternative directions. Thus, today almost 70% of the crude oil in the company’s portfolio is raw material that does not come from Russia,” he said.

According to him, by the beginning of the military aggression of the Russian Federation, the share of oil supplied to Orlen in alternative directions already exceeded 50%.

The official noted that soon the company will be able to further restrict oil imports from the Russian Federation thanks to a contract with Saudi Aramco for the supply of up to 20 million tons of oil per year (signed as part of corrective measures to merge with the Lotos group). It is expected that shipment will begin in the middle of this year.

The head of Orlen believes that the withdrawal from Russian oil should be coordinated throughout the European Union in order to maintain market balance: “Otherwise, a situation may arise in which we stop buying, but, for example, German refineries partially owned by Russians will continue. As a result, products based on cheap but unnecessary raw materials will still be on the market. To prevent this from happening, the prime minister proposed introducing a tax on the supply of Russian oil at the EU level. Then we will have a market balance and fair competition.”

He also stressed that the company does not buy oil in rubles.

“We pay for oil in the currency specified in the contracts. A change in currency means a change in the terms of the contract. And this requires the consent of both parties,” explained Daniel Obaitek.

As previously reported, the EU may ban the import of Russian energy resourses and close ports for Russian ships.

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