## bp and Orlen Sign Deal to Supply Norwegian Crudes
In a strategic move to diversify its feedstock portfolio and enhance operational efficiency, Polish energy company Orlen has secured a 12-month agreement with bp to receive 6 million tonnes of crude oil annually from Norwegian North Sea fields. This deal, which represents approximately 15% of Orlen’s total feedstock requirements, underscores the company’s commitment to reducing dependence on Russian oil supplies and enhancing energy security in the region.
### Key Aspects of the Agreement
– **Crude Supply**: The contract involves the delivery of crude oil from bp’s North Sea fields to either the Polish port of Gdańsk or the Lithuanian port of Būtinga, depending on regional demand. The first shipment is scheduled to arrive at Gdańsk in September 2024.
– **Feedstock Diversification**: This agreement is a crucial element in Orlen’s ongoing efforts to diversify its feedstock sources. The Norwegian crudes, which include grades such as Forties and Brent from the UK, and Oseberg, Johan Sverdrup, Troll, Grane, Brent, and Ekofisk from Norway, offer consistent quality and properties that ensure high yields, aligning well with Orlen’s processing technologies.
– **Enhanced Efficiency**: Ireneusz Fąfara, President of Orlen’s Management Board, highlighted the benefits of this collaboration, stating, “Working with bp, a stable and well-established player, is a key element in diversifying ORLEN Group’s feedstock portfolio. Notably, the oil we will acquire through this contract is not only of consistent quality and sourced from geographically close North Sea fields but also has properties that ensure high yields and is well-suited to the processing technologies at our refineries. This, in turn, enhances the economic efficiency of our production facilities.”
– **Future Collaboration**: The two companies also expressed excitement about potential future opportunities to advance their energy transition