Orlen Turns to Spot Market as Saudi Oil Disruptions Bite
The Middle East conflict has left Polish energy company Orlen scrambling to secure crude oil supplies. As Saudi Arabia's oil exports are disrupted, Orlen is turning to the spot market to replace the lost volumes. The company has launched spot tenders to acquire alternative crude from various regions, including the North Sea and the US.
Orlen is seeking to diversify its raw material basket by acquiring cargoes of Johan Sverdrup, Grane, Johan Castberg, WTI Midland, and Kazakh CPC crude. The interruption of Saudi flow represents a significant setback for Central Europe's energy infrastructure, with the Polish port of Gdansk and Lithuanian terminal of Butinge processing approximately 59% of total European Saudi oil imports this year.
According to maritime tracking data, at least four tanker charters scheduled between the Sidi Kerir terminal and Gdansk were canceled during the first half of September. Orlen's management has clarified that refining at its facilities operates within normal margins, and the active purchase of spot cargoes is part of routine optimization operations to ensure regional energy security.