Equinor Signs Three-Year Crude Oil Supply Deal With ORLEN
Equinor has reached a three-year crude oil supply agreement with Poland’s ORLEN. The deal, effective September this year, will cover oil from the Johan Sverdrup field and support ORLEN refineries in Poland, Lithuania and the Czech Republic.
What Readers Should Know
- Equinor has signed a three-year crude oil supply agreement with Poland’s ORLEN.
- The agreement will cover crude from the Johan Sverdrup field in the Norwegian North Sea.
- Equinor will supply between 5 million and more than 9 million tonnes of crude annually.
- The supplies will support ORLEN refineries in Poland, Lithuania and the Czech Republic.
- The contract also allows ORLEN to receive other crude grades produced from Norway’s continental shelf.
- The commercial terms of the agreement were not disclosed.
MONTREAL (Oil Monster): Equinor announced that it has reached a three-year crude oil supply agreement with Poland’s ORLEN, strengthening Norway’s role as a key energy supplier to Central Europe.
The deal, effective September this year, will cover oil from the Johan Sverdrup field in the Norwegian North Sea. Johan Sverdrup, Norway’s largest producing oil field, is an important source of crude for European markets. Its production has relatively low carbon emissions compared with the global industry average.
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How Much Crude Will Equinor Supply?
Under the terms of the agreement, Equinor will supply between 5 million and over 9 million tonnes of crude annually.
The contract also provides scope for ORLEN to receive other crude grades produced from Norway’s continental shelf. The commercial terms of the contract were not disclosed.
Which Refineries Will Receive the Crude?
The new crude oil deal is expected to improve the group’s access to predictable crude supplies. The supplies will support ORLEN refineries in Poland, Lithuania and the Czech Republic.
How the Agreement Expands Equinor and ORLEN Cooperation
The agreement expands cooperation between Equinor and ORLEN beyond existing energy trade.
Equinor already supplies Poland with crude oil, pipeline gas and liquefied natural gas. The Norwegian company is also involved in Poland’s renewable energy sector.
The new crude contract will further strengthen long-term energy ties between Norway and Poland, sources said.
Frequently Asked Questions
What agreement did Equinor and ORLEN sign?
They signed a three-year crude oil supply agreement.
When does the crude oil agreement take effect?
The agreement takes effect in September this year.
Where will the crude oil come from?
The crude oil will come from the Johan Sverdrup field in the Norwegian North Sea.
How much crude will Equinor supply annually?
Equinor will supply between 5 million and over 9 million tonnes annually.
Which ORLEN refineries will the supplies support?
The supplies will support ORLEN refineries in Poland, Lithuania and the Czech Republic.