https://sputnikglobe.com/20230507/polish-oil-firm-orlen-says-ban-on-russian-oil-causes-27mln-losses-per-day-1110185030.html
Polish Oil Firm Orlen Says Ban on Russian Oil Causes $27Mln Losses Per Day
Polish Oil Firm Orlen Says Ban on Russian Oil Causes $27Mln Losses Per Day
Sputnik International
Daniel Obajtek, the chief executive of Polish state-owned oil company Orlen, told FT that the ban on Russian crude oil was costing the firm around $27 million in losses per day
2023-05-07T19:01+0000
2023-05-07T19:01+0000
2023-05-07T19:01+0000
economy
russia
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2022 russian oil price cap
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At the same time, the Polish businessman himself did not call it a loss, but rather "a matter of not supporting Russia." However, he reportedly admitted that Orlen was still using Russian oil supplied via the Druzhba pipeline at the company's refinery in the Czech town of Litvinov. In December 2022, the European Union imposed an embargo on Russian crude oil, and along with the Group of Seven and Australia, agreed to a $60 per barrel price cap on oil. In February 2023, the EU also agreed to the European Commission's proposal of a $100 per barrel ceiling for Russian diesel fuel, and $45 per barrel for discounted products such as fuel oil.
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Polish Oil Firm Orlen Says Ban on Russian Oil Causes $27Mln Losses Per Day
MOSCOW (Sputnik) - Daniel Obajtek, the chief executive of Polish state-owned oil company Orlen, told a British business daily on Sunday that the ban on Russian crude oil was costing the firm around $27 million in losses per day due to a price difference of nearly $30 per barrel between Russian supplies and their alternatives.
At the same time, the Polish businessman himself did not call it a loss, but rather "a matter of not supporting Russia."
However, he reportedly admitted that Orlen was still using Russian oil supplied
via the Druzhba pipeline at the company's refinery in the Czech town of Litvinov.
"The complete replacement of Russian oil requires an improvement in the logistics of oil supplies, which we are working on with the Czech government," Obajtek told the newspaper.
In December 2022, the
European Union imposed an embargo on Russian crude oil, and along with the Group of Seven and Australia, agreed to a $60 per barrel price cap on oil. In February 2023, the EU also agreed to the European Commission's proposal of a $100 per barrel ceiling for Russian diesel fuel, and $45 per barrel for discounted products such as fuel oil.
