Orlen buys crude oil from Saudi Aramco

Polish refinery giant PKN Orlen has inked a deal with Saudi Aramco for some 200,000 metric tonnes of monthly crude oil supplies in the period from May to end-December 2016, the firm said in a market filing, "The price of crude oil to be delivered, as per standard market practice, will be calculated with the use of BWAVE and Official Selling Price to be advised in due course by the supplier," the filing reads. The deal will be automatically extended yearly for the following year unless terminated in line with the provisions of the agreement, Orlen said.