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Orlen Reportedly Secures 16 Crude Cargoes As Saudi Supplies Face Disruptions

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Poland's Orlen secured 16 additional spot crude cargoes in recent days, expanding supply from multiple global origins while maintaining uninterrupted refinery operations, the company said Thursday, according to multiple media reports.

Orlen has bought spot crude from Norway, the UK, Algeria, Kazakhstan, Azerbaijan, and North and South America since Sept. 11, with deliveries fully meeting refinery demand, the reports said.

Orlen's increased spot crude buying may help cover a supply gap after Saudi Aramco, its biggest European client, canceled or deferred some term crude deliveries following damage to its East-West pipeline.

Last month, Equinor (EQNR) announced a three-year agreement with Poland's Orlen to supply crude from the Johan Sverdrup field on the Norwegian continental shelf.

Orlen usually takes in crude cargoes of about 700,000 barrels, and the 16 additional shipments could cost almost $1.5 billion at physical oil prices near $130 per barrel, according to a Reuters report citing Kpler data and Reuters calculations.

Orlen did not immediately reply to' request for comment.

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