Russian oil ban costs Polish oil company $27 million a day
The ban on Russian crude oil is costing Poland's state oil company PKN Orlen $27 million a day, the FT reported.
PKN Orlen CEO Daniel Obajtek described losing Russian oil as a loss of about $27 million a day because of the price difference of about $30 per barrel between the cheaper Russian oil and alternative supplies.
Obajtek said his company still uses Russian oil piped through the Druzhba network for its Czech refinery in Litvínov, which is not subject to sanctions.
"The complete replacement of Russian oil requires an improvement in the logistics of oil supplies, which we are working on with the Czech government," he said.
Obajtek added that Russian oil companies are still "flooding Europe with petrochemical products" despite EU sanctions.
Yet Poland itself, despite pledges to stop imports of Russian oil by late 2022, continued to import it into its domestic market until February 2023.
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