Lotos buys another oil shipment from the US

WSE-listed, state-owned fuel giant Grupa Lotos has bought a second crude oil shipment from the United States as part of a plan to reduce its reliance on Russian oil supplies, the company said in a market filing. “This purchase is an element of the consistently implemented company strategy to diversify its supply. The decision to purchase the raw material is conditioned by technological and economic efficiency. Currently, every fifth barrel of crude oil processed at the Grupa Lotos refinery in Gdańsk comes from a direction other than the East.” The shipment of 650k barrels of oil has already left the US and is expected to arrive mid-December.