Rosneft and PKN Orlen extended 3 year contract for the supply of oil from Russia to Poland

MOSCOW, December 30. Rosneft and PKN Orlen have extended the contract for the supply of Russian oil via the Druzhba pipeline to Poland for another 3 years, said the Polish company. The parties signed an Annex to the agreement dated February 1, 2013, in accordance with which address will be supplied to PKN Orlen from 18 million tons to 25.2 million tons of oil. Delivery will be carried out starting from 1 February 2016 to 31 January 2019.

The estimated maximum cost of supply, current market conditions, on January 31, 2019 will be approximately 26 billion zlotys. The value of the contract exceeds 10% of equity capital of PKN Orlen.

1 February 2013, Rosneft signed a contract for the supply of oil to Poland along the Druzhba pipeline. Buyer of oil on the territory of Poland were made by the company PKN Orlen, owning Plotsky NPZ. The amount of the transaction amounted to approximately $ 15 billion at current prices, the volume of deliveries amounted to about 6 million tons of oil per year (about 18 million tons over the life of the contract). The contract with PKN Orlen concluded with the delivery time up to 31 January 2016.