Rosneft Signs $15 Billion Crude Oil Supply Deal With Poland

From Fox Business

Russian state-run oil company Rosneft (ROSN.RS) said Friday that it has signed a $15 billion deal to supply Poland with 6 billion tons of crude oil a year through January 2016 through the Druzhba pipeline.

In all, the contract is for approximately 18 million tons of oil, which will be purchased by PKN Orlen (PKN.WA), owner of the Plotsk refinery. The contract increases the annual amount of crude oil travelling through the northern branch of the pipeline to 13 million tons.

The company also said in late January it signed contracts to supply crude oil to Germany via the pipeline, which will be purchased by units of Total SA (TOT) and Royal Dutch Shell PLC (RDSB), which hold interests in Germany’s PCK Schwedt refinery. A similar contract is expected to be signed soon with Eni SpA (E) which also holds a stake in the refinery, Rosneft said.

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