ORLEN has entered into a strategic, twelve-month crude oil procurement agreement with bp. The contract guarantees a consistent supply of six million tonnes of North Sea crude, a critical resource representing approximately fifteen percent of the ORLEN Group's annual feedstock demand. This strategic partnership reinforces ORLEN's commitment to securing a reliable and diversified supply chain.

The agreement is designed to offer ORLEN Group flexibility in its crude oil supply chain, allowing deliveries to be made to either the Polish port of Gdansk or the Lithuanian port of Butinga based on current demand. This arrangement ensures that the ORLEN Group can efficiently manage its supply needs and respond to market conditions. The first oil tanker under this contract is scheduled to arrive at the port of Gdansk in September 2024, marking the beginning of this strategic supply initiative.

Ireneusz Fafara, President of the ORLEN Management Board, emphasized the strategic importance of partnering with bp, a well-established and reliable industry player, to diversify ORLEN Group's feedstock portfolio. He highlighted that the oil obtained through this contract is not only consistently high-quality and sourced from nearby North Sea fields but also has properties that yield high returns and align well with ORLEN's refining technologies, boosting the economic efficiency of their production facilities. Fafara also added that ORLEN and bp will explore additional areas for collaboration, further strengthening their partnership.

Bogdan Kucharski, Head of Country for bp Poland, emphasized the significance of the agreement to supply ORLEN with Norwegian crude oil, marking a key development for bp's business in Poland. He noted that this agreement not only strengthens Poland's energy security but also benefits the broader Central and Eastern European region. Kucharski highlighted bp's capability to supply a variety of crude oils, including North Sea crudes and others that ORLEN uses. He also expressed enthusiasm for collaborating with ORLEN on future initiatives aimed at advancing the energy transition.

ORLEN sources a diverse range of crude oil grades from various global regions, enhancing its operational flexibility and resilience. From the North Sea, it acquires Forties and Brent grades from the UK, along with Oseberg, Johan Sverdrup, Troll, Grane, Brent, and Ekofisk from Norway. ORLEN also imports substantial volumes of WTI, Bakken, and Mars grades from the United States, ensuring a steady supply of high-quality crude. To further diversify its portfolio, the company sources oil from the Persian Gulf and imports Forcados and Bonny Light grades from West Africa, positioning itself to adapt to changing market conditions and maintain supply security.