Saudi Arabia requires Russia to export oil to Europe Russian news EN
Saudi Arabia has negotiated about half of Poland’s oil imports by buying shares in the large Orlen oil refinery in Gdansk. Eastern Europe considered the market for oil, but the situation may change, they write “News”.
Orlen will receive up to 337 thousand barrels per day from the Saudis. At present, Russia is the main supplier of oil to Poland. In Poland, they began to buy goods through the Druzhba oil pipeline and more through the terminal in Gdansk.
“This policy, because it is difficult to find that the supply of tankers from Saudi Arabia will be cheaper than Russian oil through pipes: logistics costs will cost at least 20 percent of the cost, unless the oil is replaced. On the other hand, Poland has been buying oil for quite a long time not only from Russia, including from Saudi Aramco,” said Mikhail Kogan, head of the research department at the Graduate School of Financial Management. Experts believe that the Saudis are largely partially consuming Russia from the oil market in Europe.
The purchase of a stake in Orlen in many respects really looks like “the second Saudi on the Russian market,” says Andrey Maslov, an analyst at Finam. Saudi Arabia is expected to increase availability and supply to European countries. In turn, Russia can increase fruit sales in the Asia-Pacific market, which is more attractive and promising in terms of monitoring consumption growth.