Commodities
Equinor Supplies Crude to ORLEN Under Three-Year Deal
Equinor ASA has signed a three-year agreement to supply crude oil from its Johan Sverdrup field to ORLEN's refineries in Poland, Lithuania, and Czechia. The deal, which starts in September, involves the Norwegian company supplying five to nine million metric tons of crude per year.
The agreement also allows for the possibility of supplying other crude grades produced on Norway's continental shelf. Equinor recently announced plans to extend Johan Sverdrup's productive life beyond its current phase 3 development.
ORLEN President Ireneusz Fąfara said the deal demonstrates the energy sector's resilience in the face of global market instability. He added that ORLEN expects Norway to account for up to a quarter of its yearly demand.