10 October 2018, Sweetcrude, Lagos — Nigeria and Poland’s largest oil refiner, PKN Orlen, have struck a 130,000 ton crude oil deal. This will be Nigeria’s first export to the country.
The oil cargo expected to arrive in mid-October, according to data sourced from Reuters and quoting the company’s chief executive, Daniel Obajtek.
PKN’s newest buy from Nigeria is to cut Poland’s reliance on Russian oil.
The 130,000-ton cargo of Nigerian oil is currently traveling to Poland and is expected to arrive in the middle of this month.
“If tests confirm the assumed yields structure and margins, further oil supplies from Nigeria will be a viable option,” Obajtek said.
This newest addition of buyer for Nigeria comes on the heels of the country’s crude grades having it tough finding buyers.
Obajek also said the falling value of Russia’s Urals also played a part in PKN seeking new suppliers.