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Ukrnafta Concluded a Contract for the Supply of Petroleum Products with the Polish PKN Orlen

08 March 2023

PJSC Ukrnafta concluded a contract for the supply of petroleum products with PKN Orlen, the largest oil concern in Poland.

This will allow the company to receive petroleum products directly from the producer at the most favorable prices, Ukrnafta reports on its website.

Ukrnafta is also negotiating with Orlen regarding the export of oil of its own production in order to free up space in underground oil storages and to avoid overstock.

“We thank our Polish partners and hope for a long and fruitful cooperation. I hope that soon I will be able to share good news about the export of oil,” Serhii Koretskyi, Director of PJSC Ukrnafta Serhii noted.

As Ukrainian Energy reported, at the beginning of November 2022, the Supreme Commander-in-Chief made a decision to forcibly expropriate the property of a number of companies, in particular, the shares of Ukrnafta (with the exception of the controlling stake in Naftogaz of Ukraine). About 42% of the shares of Ukrnafta belonged to the withdrawal of the structures of Ihor Kolomoiskyi and Hennadii Boholiubov.

In 2022, Ukrnafta reduced the production of oil with condensate by 8.6% compared to 2021 – to 1.37 million tons. Currently, the company is storing the volumes produced in underground pipelines and is counting on the earliest opportunity to start exporting or processing it under the tolling scheme abroad.

Ukrnafta has 85 special permits for hydrocarbon production. 1,791 oil and 147 gas wells are owned by it. The company also owns 537 gas stations, 449 of which were working as of the end of December 2022. The others were either damaged as a result of hostilities or were located in temporarily occupied territories.

In 2022, Orlen’s revenues from sales to Ukraine amounted to 4.441 bln zlotys (2.124 bln zlotys in 2021).

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