Saudi Aramco Buys Stake In Refinery In Russia’s Backyard

OilPrice.com | Jan 12, 2022 at 2:30 PM
  • Saudi Arabia is expanding its downstream presence and crude customers in Eastern Europe, traditionally Russia’s backyard, by buying a stake in a Polish refinery.
  • Aramco has also signed a memorandum of understanding (MoU) with PKN Orlen and SABIC, one of the world’s largest petrochemicals companies, to explore joint opportunities in Poland and elsewhere in Central and Eastern Europe.
  • Poland is also one of the most vocal opponents of the Russia-led Nord Stream 2 gas pipeline project from Russia to Germany.