ORLEN contracted crude oil supplies to Płock from Tatneft Europe AG

PKN ORLEN has signed long-term contract for crude oil supplies for Production Plant in Płock. The contract provides for the supply from 3,6m up to 7,2m tonnes of crude oil and value of the contract is estimated at up to approximately PLN 7,4 bn.

The agreed volumes of REBCO crude oil will be delivered directly to Płock through the Druzhba Pipeline, starting from 1 January 2016 till 31 December 2018. The currently binding agreement with Mercuria Energy Trading expires 31st December 2015. Concluding long-term contract with crude oil producer guarantees safe and economical supply of raw material in the long-term perspective. Negotiated terms of supplies’ volumes ensure flexibility of the refinery, with regard to volatility of oil market.

Tatneft Europe AG , headquartered in Switzerland, is a subsidiary of the Russian crude oil producer OAO Tatneft. In addition to the contract signed today, PKN ORLEN is party of another long-term contract with Rosneft Oil Company for supplies of crude oil to Płock, that is valid until 31st January 2016.