PKN ORLEN signs crude oil supply contract with KD Petrotrade FZE
The Board of PKN ORLEN has today signed a long-term contract for the supply of 2.4m tonnes of crude oil per year with KD Petrotrade FZE. In doing so, PKN ORLEN has achieved the planned model supply structure, which provides for acquiring approximately 82% of crude oil in term contracts.
The anticipated value of the contract is approximately $ 3.9bn (PLN 10.5bn). 2.4m tonnes of crude oil constitute approximately 20% of the company’s annual demand. REBCO crude will be supplied to PKN ORLEN via the Druzba pipeline. The contract is valid until June 30, 2010 and may be extended by another two or more years.
KD Petrotrade FZE is a reliable supplier who has previously delivered similar volumes to PKN ORLEN in short-term spot contracts.
The contract signed with KD Petrotrade FZE is the result of the implementation of a model supply structure for PKN ORLEN. The contract is an important tool in ensuring diversified supplies to PKN ORLEN and will contribute to improving energy security.
