Latest news with #Fafara
Yahoo
30-06-2025
- Business
- Yahoo
Poland's Orlen will no longer buy Russian oil, CEO says
WARSAW (Reuters) -Polish refiner Orlen will not buy Russian oil for its Czech refinery after June 30, Chief Executive Ireneusz Fafara said on Monday. The contract with Rosneft for Russian oil to be supplied to the Litvinov refinery in the Czech Republic was the last one linking Orlen to Russian oil, it said in a statement. "We freed Central Europe from Russian oil today," Fafara told a news conference. The Czech Republic had said in April that it had become fully independent of Russian oil supplies for the first time in its history following the completion of capacity upgrades on the TAL pipeline coming from the west. Since Russia's invasion of Ukraine, the Czech government has sought to end its partial dependence on the Druzhba pipeline, which has been delivering supplies from Russia for decades and has accounted for about half the country's annual oil imports. At the end of last year Czech pipeline operator MERO completed an upgrade along the Transalpine (TAL) pipeline, which carries oil from tankers in the Italian port of Trieste to Germany, where it feeds into the Ingolstadt–Kralupy–Litvinov (IKL) pipeline to the Czech Republic. Orlen said that currently, Czech refineries are supplied with crude oil from, among others, the North Sea and Mediterranean region, Saudi Arabia, South and North America, and Africa.
Fibre2Fashion
12-06-2025
- Business
- Fibre2Fashion
Orlen & Naftogaz collaborate to strengthen Ukraine's energy security
ORLEN and its Ukrainian counterpart, Naftogaz Group, are expanding their strategic partnership. The two companies have signed a memorandum of understanding to cooperate in upstream exploration, downstream development, and the reinforcement of cross-border relations and commercial ties. The envisaged cooperation will bolster Ukraine's energy security by broadening the diversification of its supply sources – not only for natural gas, but also for crude oil – while opening avenues for the adoption of alternative fuels. The MoU was signed during the Newfolk Oil & Gas conference, the foremost event for the oil and gas industry in Ukraine, held in Lviv. Orlen and Naftogaz have signed an MoU to expand cooperation in upstream and downstream energy projects, boosting Ukraine's energy security. The deal includes increased gas deliveries via Poland, joint extraction efforts, and investment in biofuels and fuel distribution. Signed in Lviv, the agreement marks a new phase in their strategic partnership. 'The agreement we have signed stands as further evidence of our strategy being effectively put into action. ORLEN is becoming a cornerstone of energy security not only for Poland, but for the broader region. After we launched the deliveries of US LNG to our Ukrainian partner, we are now entering a new phase of deeper cooperation. Together, we can achieve more,' said Ireneusz Fafara, CEO and President of the Management Board of ORLEN. 'I believe we can elevate our partnership to an entirely new level. I am grateful to our Polish counterparts – and personally to Mr Fafara – for the constructive dialogue and their genuine support for Ukraine,' said Sergii Koretskyi, CEO of Naftogaz Group. Under the terms of the MoU, the parties will seek to increase natural gas deliveries via Poland to Ukraine and to advance joint projects in oil and gas extraction. These initiatives are expected to strengthen Ukraine's resource security and flexibility. Naftogaz also stands to benefit from ORLEN's technical expertise in the refurbishment of gas infrastructure damaged during the war. In addition, both companies intend to pursue joint investment projects across fuel distribution and development of the biofuels segment. The Lviv memorandum marks the second cooperation agreement between ORLEN and Naftogaz. Under the initial agreement, ORLEN concluded three contracts to supply a total of 300 million cubic metres of LNG to Ukraine. The ORLEN Group currently supplies Ukrainian customers with refined petroleum products, including gasoline, diesel oil and bitumen, while delivering dedicated services to upstream sector operators. Naftogaz Group is Ukraine's largest state-owned oil and gas enterprise, operating across the entire value chain – from exploration and production to transport, storage, and sales of gas and crude oil. The company plays a critical role in ensuring the nation's energy security and ranks among its largest taxpayers. Despite the ongoing military conflict, Naftogaz continues to expand its resource output and remains firmly committed to reducing Ukraine's reliance on imported gas through maximised domestic production. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
