BRIEF-Saudi Aramco Expands European Downstream Presence With PKN Orlen Investments


Reuters | Updated: 12-01-2022 18:23 IST | Created: 12-01-2022 18:02 IST
BRIEF-Saudi Aramco Expands European Downstream Presence With PKN Orlen Investments
Representative Image Image Credit: Twitter (@Saudi_Aramco)

SAUDI ARABIAN OIL CO: * ARAMCO EXPANDS EUROPEAN DOWNSTREAM PRESENCE WITH PKN ORLEN INVESTMENTS

* INVESTMENTS WIDEN ARAMCO'S PRESENCE IN EUROPEAN DOWNSTREAM SECTOR * MOU WITH PKN ORLEN AND SABIC TO EXPLORE JOINT OPPORTUNITIES IN REGION

* CO HAS AGREED TO ACQUIRE EQUITY STAKES OF 30% IN A 210,000 BARRELS PER DAY REFINERY IN GDANSK; 100% IN AN ASSOCIATED WHOLESALE BUSINESS * IN ADDITION TO INVESTMENTS, ARAMCO HAS SIGNED A MEMORANDUM OF UNDERSTANDING (MOU) WITH PKN ORLEN AND SABIC

* ACQUISITIONS WILL BE MADE FROM POLISH REFINER AND FUEL RETAILER PKN ORLEN FOLLOWING ITS PROPOSED MERGER WITH GRUPA LOTOS * COMPLETION OF TRANSACTION IS SUBJECT TO REGULATORY APPROVALS, INCLUDING FROM EUROPEAN COMMISSION

* TO ACQUIRE STAKE OF 50% IN A JET FUEL MARKETING JOINT VENTURE WITH BP * MOU WITH PKN ORLEN AND SABIC TO EXPLORE JOINT OPPORTUNITIES IN POLAND AND ELSEWHERE IN CENTRAL AND EASTERN EUROPE

* ANOTHER MOU WAS SIGNED BY ARAMCO AND PKN ORLEN WHICH FOCUSES ON EXPLORING POTENTIAL OPPORTUNITIES FOR RESEARCH AND DEVELOPMENT Further company coverage:

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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