Saudi Aramco joins Polish downstream venture
GDANSK, January 13, 2022 – Saudi Aramco has acquired a stake in state-run oil refiner Polski Koncern Naftowy Orlen’s downstream operations in Poland, the Saudi oil and gas company announced yesterday.
The deal involves a 30% share in a 210,000-bpd refinery in Gdansk, an associated wholesale business and 50% shares in a jet fuel marketing company.
The acquisition will be carried out upon the Polish fuel retailer’s merger with Grupa Lotos and is subject to regulatory approvals.
Additional MoUs were signed between Saudi Aramco and Polski Koncern Naftowy Orlen to explore joint opportunities in Poland and R&D.