Page 13 - EurOil Week 10 2023

EurOil PROJECTS & COMPANIES EurOil

PKN Orlen to seek compensation

from Russia for lost oil supply

POLAND POLAND’S largest oil refiner PKN Orlen plans consumers,” it said.
to seek compensation from Russia for cutting The EU imposed an embargo on seaborne
PKN Orlen lost its off its oil supply via the Druzhba pipeline in Russian oil imports in early December, but pipe-
Russian pipeline oil mid-February, its CEO Daniel Obajtek said on line supplies are still permitted.
supply last month. March 6. “Russia stopped pumping oil to Poland …
Russia initially provided no explanation for so we will now take legal action and demand
cutting off oil supply to Poland on February 15; claims,” Obajtek told Polish radio. He did not say
the move came only days after Warsaw deliv- how much compensation the company would
ered its first Leopard tanks to Ukraine. PKN seek, noting he could not discuss contract details.
Orlen said at the time it would be able to supply Polish Prime Minister Mateusz Morawiecki
its refineries via sea, and that there would be no said last week that Poland would receive close to
impact on deliveries of gasoline and diesel to its zero Russian oil in March.
customers. Since February, when PKN Orlen’s long-term
Russia now claims that incomplete paper- supply contract with Rosneft expired, the com-
work prevented the delivery of oil to refineries pany has been receiving crude from another
in the second half of last year. Specifically, its Russian oil company Tatneft. Oil deliveries via
oil pipeline monopoly Transneft said “routing the southern branch of Druzhba to the Czech
orders with confirmed resource and transit pay- Republic, where two of PKN Orlen’s refineries
ment were not executed.” are based, continues as normal, local pipeline
“In addition, operational changes were made operator Mero said on February 25, according
to the schedule, excluding supplies for Polish to Reuters. ™

Equinor bolsters North Sea position

with Wellesley deal

NORWAY NORWAY’S state-owned energy giant the portfolio towards our core exploration
Equinor has strengthened its north North Sea acreage.”
Equinor is buying position by striking a deal to expand its stakes The deal will increase Equinor’s equity
acreage in an area that in five discoveries off the Norwegian coast. share by 18.8% in Grosbeak, 45% in Toppand,
has emerged as an The deal with Wellesley Petroleum covers 40% in Atlantis, and 20% in Røver Nord and
exploration hotspot. interests in the Troll, Fram and Kvitebjørn Røver Sør discoveries. Following the trans-
area. Since 2019, Equinor has made seven action, Equinor’s ownership interests will be
discoveries there, which has emerged as an 80% in Atlantis (licence PL878/878B/878C),
exploration hotspot over the last few years. 55% in Grosbeak (licence PL248I), 85% in
These finds can be put into production with Grosbeak (licence PL925), 60% in Røver
low costs and low CO2 emissions by being Nord/Sør (licence PL923/PL923B), and 95%
connected to existing infrastructure. in Toppand (licence PL630/PL630CS).
“With this transaction, we strengthen our The transaction’s completion will mean
position in one of our core areas on the Nor- Wellesley has returned more than half a bil-
wegian Continental Shelf [NCS],” Equinor lion dollars to investors through the sale of
said. Wellesley added that the deal provided discoveries since 2019.
“Equinor with more scale in high-quality “Discoveries close to infrastructure are
operated development projects with excel- important for our ambition to maintain
lent ESG characteristics, whilst allowing production at current levels from the NCS
Wellesley to crystallise value and refocus beyond 2030,” Equinor said. ™

Week 10 08•March•2023 www. NEWSBASE .com P13