PKN ORLEN, Glencore collaborate crude oil delivery

PKN ORLEN, Glencore collaborate for crude oil delivery

10:10 AM, 18th December 2012
PKN ORLEN, Glencore collaborate for crude oil delivery

WARSAW, POLAND: Polski Koncern Naftowy ORLEN SA (PKN ORLEN) has signed a spot agreement with Glencore Energy UK Ltd, London, UK for delivery of crude oil to AB ORLEN Lietuva. The estimated net value of the agreement amounts to approximately $78 million. The total estimated value of agreements signed between PKN ORLEN and Glencore in the period between 4 October 2012 and 17 December 2012 amounts to approximately $796 million. The estimated value of the agreement amounts to approximately $81 million. The agreement was concluded for crude oil deliveries to ORLEN Lietuva.

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