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. Saudi oil giant Aramco has signed a deal with Polish refiner and fuel retailer PKN Orlen to buy 30 percent in a 210,000-bpd refinery in Gdansk, Poland, 100 percent in an associated wholesale business, and 50 percent in a jet fuel marketing joint venture with BP, the world’s largest oil company and top oil exporter said on Wednesday.
The acquisitions are subject to regulatory…Saudi Aramco Buys Stake In Refinery In Russia’s Backyard
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