Fuel market in Poland
There is no problem when it comes to fuel supplies in Poland and the situation is stable – Prime Minister Donald Tusk assured on Tuesday.
– I want to tell you that there is no problem when it comes to fuel supplies in Poland. (…) The war has no direct impact on the supply of crude oil and other fuels to Poland – Prime Minister Tusk said on Tuesday before the government meeting.
There is no question of any, even the slightest, supply disruptions
He explained that Orlen does not import any crude oil from Iran or via the Strait of Hormuz.
– The entire structure of oil supplies to Orlen and Poland is currently completely safe and secure there is no question of any, even the slightest, disruptions. (…) The situation is absolutely stable, there is no reason to worry at all when it comes to deliveries and stocks – assured the head of government.
The filling level of the system, where we collect fuels, is over 73%, which is more than normal. This is 3 million cubic meters of crude oil, with an increasing, not decreasing trend, assured the head of government.
What about fuel prices at stations?
The Prime Minister admitted that the integrity of fuel prices cannot be guaranteed, but as she stressed, Orlen will use financial toolsincluding those related, for example, to the margin, so that possible spikes in oil prices on world stock exchanges nhad a “massive” impact on fuel prices in Poland.
Natural gas stocks
The head of government emphasized that the situation is also stable – as far as natural gas stocks are concerned.
Orlen announced on Monday that it is constantly monitoring the geopolitical situation in the Middle East and its potential consequences for global energy markets.
“At this stage We do not identify any threats to the continuity of fuel supplies to the domestic market or to the operation of our refineriesbecause Orlen has not and does not import crude oil through the Strait of Hormuz. (…) The market security system, including mandatory and strategic stocks, constitutes an important safety buffer in the event of temporary disruptions in international trade,” the company said in a statement sent to PAP.
Strategy for diversification of supply sources
The company recalled that for yearsimplements a strategy to diversify sources of crude oil supplies – the raw material supplied to the company’s plants comes from, among others, from the Mediterranean basin, North and West Africa, Scandinavia, the Americas and from domestic extraction. The company also has long-term contracts with companies such as Aramco and Equinor, which cover a significant part of the demand. “This supply structure significantly reduces the risk of disruptions in individual transport routes,” the company emphasized.
Orlen emphasized that it is prepared for various scenarios of the development of the international situation, including: possible changes in the directions of raw material supplies. “We do not currently expect interruptions, downtime or declines in fuel production in the Orlen Group’s refineries due to tensions in the Middle East region,” the company noted.
LPG mainly from our own production
The company also reported that The LPG introduced by the company to the market comes mostly from its own production from the Orlen Group refinerysupplemented mainly by imports by sea from the USA and Western and Northern European countries. “This solution allows us to guarantee stable and reliable supplies of products of appropriate quality. Therefore, there is no reason for drivers using LPG installations to be afraid of restrictions in the availability of this fuel in the country,” Orlen added.
Hundreds of tankers are stuck in the Persian Gulf
The attack on Iran began on Saturday morning. The supreme leader’s headquarters in Tehran and Iranian military targets were attacked. Iranian authorities on Sunday confirmed the deaths of the country’s supreme leader Ali Khamenei, commander of the Islamic Revolutionary Guard Corps (IRGC) Mohammad Pakpur and influential security adviser Ali Shamkhani. Iran responded by attacking Israel and US bases in the Persian Gulf countries.
Kthe Iranian-controlled Strait of Hormuz, connecting the Persian Gulf with the Arabian Sea and the Indian Ocean, it is a key point on the world trade map. Following Saturday’s attacks by the US and Israel, the Iranian Revolutionary Guard (IRGC) announced that no vessels are permitted to enter the strait; hundreds of tankers were disabled on both sides.
Between one-fifth and one-third of the world’s maritime transport of crude oil and a large proportion of natural gas flows through the strait.
The price of oil on world markets is up
Oil prices are at very high levels and are increasing in response to the escalation of the US and Israel’s military operations against Iran, brokers said on Tuesday. “We expect oil prices to reach $82-85 in the next few days. per barrelas Iran attacks energy infrastructure and shipping,” Robert Rennie, head of commodities research at Westpac Banking Corp., said on Tuesday.
Orlen and its subsidiaries are a multi-energy company that has refineries in Poland, the Czech Republic and Lithuania, and a network of gas stations, including in Germany, Slovakia, Hungary and Austria. At the same time, it develops the crude oil and natural gas extraction segment, the petrochemical segment and the energy segment, including renewable energy sources. It also plans to develop nuclear energy based on small, modular SMR reactors.
Orlen is a strategic entity for energy security, it manages critical infrastructure, including, in addition to production plants, also pipelines, bases and terminals.
