Locked content Fuel prices may inch down – BM Reflex

If there is no rapid increase in wholesale fuel prices, prices at stations may drop by PLN 0.02 – 0.04 per liter this week, BM Reflex analysts estimated. Although the unstable situation on the oil and gas market affects fluctuations in wholesale fuel prices, prices on the retail market remain ...

Locked content First US oil tanker after embargo lift reaches Poland

Almi Explorer, a US tanker transporting 100,000 tonnes of crude oil from West Texas Intermediate to Polish oil giant PKN Orlen, has reached its destination in Gdańsk, PKN Orlen stated. It is the first shipment of oil from the US to Poland after the US forty-year-long embargo on oil exports was lifte...

Locked content PGNiG sees oil prices to grow by 27% and gas to drop by 25% by 2025

Crude oil prices should increase from the current $55 to some $70 per barrel in 2022, while gas prices will fall from PLN 80 to PLN 60 per MWh, WSE-listed gas giant PGNiG said in its updated strategy. “Increased supply of LNG from the US and Australia will be responsible for the drop in gas… ...

Locked content Price of oil reaches three-year low

Continued oversupply from Organization of the Petroleum Exporting Countries (OPEC) led to the continued drop in the price of oil in trading on Monday, according to a report by Reuters. The price of Brent crude oil fell by almost 1 percent, to $44.32 per barrel during morning trading. OPEC had planne...

Locked content Lotos close to signing new crude oil deal with Iran

Poland’s second biggest refiner Lotos may sign a long term deal on crude oil supplies from Iran, deputy CEO Marcin Jastrzębski announced during an economic forum in Krynica on Wednesday. “More or less within a week we will know results of test runs of Iranian oil. If results are good, I&...

Locked content Lotos starts initial production from new deposit

LOTOS Petrobaltic, a subsdiary of LOTOS has launched initial production from B8 on the Baltic Sea, a company press release read. B8 deposit has production potential at the level of 3.5 mln tons of oil, while average annual production is estimated at 250k tons. When commerical production starts, the ...

Locked content Orlen buys-back crude oil supplies for over PLN 2.5 bln

Poland’s largest refiner PKN Orlen bought-back crude oil supplies from Cranbell for some PLN 2.67 billion, before the deadline enclosed in a contract,  the Polish Press Agency reported.The supplies were sold in June last year. “Good situation about the liquidity of the company and a low ...

Locked content Orlen and PGNiG to explore gas and oil reserves in Karpaty

Orlen Upstream (a subsidiary of PKN Orlen) and PGNiG have signed an Agreement of Joint Operations (Umowa o Wspólnych Operacjach). Based on the agreement,  the companies will carry out research and exploration projects in Podkarpackie voivodeship, a company press release read. “The aim of the j...

Locked content Gdańsk and Śwonoujście gas terminals to be ready this year

Crude oil terminal in Gdańsk and the LNG (liquefied natural gas) terminal in Świnoujście will be delivered by the end of the year, said State Treasury Minister Włodzimierz Karpiński. “I am convinced, and it is my goal to see this investment [crude oil terminal in Gdańsk] and the gas terminal c...