The Saudi Arabian Oil Company has successfully closed three landmark transactions with Polish refiner and fuel retailer PKN ORLEN, through its subsidiary Aramco Overseas Company BV, based in the Netherlands. As part of the transaction, first announced in January 2022, the Company acquired equity stakes of 30% in a 210,000 barrels-per-day refinery in Gdansk; 100% in an associated wholesale business; and 50% in a plane fuel marketing joint venture with BP Europa SE, which operates in seven airports in Poland, following PKN ORLEN’s merger with Grupa LOTOS. The agreements represent a significant milestone in Aramco’s long-term strategy to grow its integrated refining and petrochemicals capacity, and expand its product portfolio across the entire hydrocarbon value chain. The transactions also seek to establish a solid foundation for further business development, and aim to complement Aramco’s strategy to expand its liquids to chemicals capacity to up to 4 million barrels per day.
The Saudi Arabian Oil Company has successfully closed three landmark transactions with Polish refiner and fuel retailer PKN ORLEN, through its subsidiary Aramco Overseas Company BV, based in the Netherlands. As part of the transaction, first announced in January 2022, the Company acquired equity stakes of 30% in a 210,000 barrels-per-day refinery in Gdansk; 100% in an associated wholesale business; and 50% in a plane fuel marketing joint venture with BP Europa SE, which operates in seven airports in Poland, following PKN ORLEN’s merger with Grupa LOTOS. The agreements represent a significant milestone in Aramco’s long-term strategy to grow its integrated refining and petrochemicals capacity, and expand its product portfolio across the entire hydrocarbon value chain. The transactions also seek to establish a solid foundation for further business development, and aim to complement Aramco’s strategy to expand its liquids to chemicals capacity to up to 4 million barrels per day.
