WARSAW -Poland’s largest refiner PKN Orlen said it was continuing to buy Russian crude oil to ensure the security of supplies, as some European buyers shunned Russian barrels over Moscow’s invasion of Ukraine.
The conflict has pushed the United States and some Western oil firms to stop buying Russian oil amid talk of potential supply from Iran, Venezuela and the United Arab Emirates.
“For the Orlen Group, the priority is to ensure the continuity of operation of our European refineries and the energy security of Poland and the entire region, including Lithuania, Latvia, Estonia, the Czech Republic and Slovakia,” the company said in an email to Reuters.
“PKN Orlen monitors the situation in Ukraine and is prepared for any scenario, including the complete suspension of supplies from the eastern direction,” it added.
The company also said it had managed to diversify supplies over recent years with Russian crude accounting for half of the throughput at its 330,000 barrel per day Plock refinery, while the rest comes from Saudi Arabia, the United States and West Africa.
PKN Orlen operates refineries in Poland, Lithuania and the Czech Republic, which processed 29.9 million tonnes of crude oil in 2021.