Lotos looking for long-term oil supply deal with Iran

State-controlled oil refiner Lotos is interested in securing a long-term supply deal with Iran once it expands its Gdańsk refinery next year, its chief executive said. Lotos signed an agreement in 2016 with National Iranian Oil Company for the delivery of 2 million barrels of oil and is in talks to extend the deal. “We are negotiating a supply of heavy oil from Iran,” CEO Marcin Jastrzębski told Reuters. “We assume that shipment of two million barrels will reach the (Polish) port of Gdansk at the beginning of May,” he added. Lotos main oil supplier is Russia, which last year accounted for 75 percent of Lotos deliveries. However Jastrzębski claims that the decision to extend the contract with Iran is strictly economical.