Aramco acquires stakes in Polish refiner amid expansion efforts

Arab News | Jan 12, 2022 at 4:07 PM
  • Saudi oil and gas giant Aramco is further growing its international downstream presence via investments in Polish state oil refiner and petrol retailer, PKN Orlen, Aramco said in a statement.
  • The Dharhan based corporation will acquire a 30 percent stake in a Polish refinery with an estimated 210,000 barrels daily, an 100 percent  stake in a related wholesale business, and a 50 percent stake in a jet fuel marketing joint venture with British multinational oil and gas firm, BP.
  • Aramco signed an agreement with the Polish firm as well as Saudi based chemical manufacturing company, SABIC to explore and unveil potential petrochemical growth and expansion opportunities in Poland as well as Central and Eastern Europe.