Poland has pledged to avoid buying Russian oil until the end of the year.
MOSCOW/SINGAPORE (AP) — Poland first imported a shipment of Abu Dhabi Murban oil in August as the country searched for Russian oil, knowledge from Refinitiv Eikon and investors showed.
European Union leaders have agreed to an embargo on imports of Russian crude oil that will take effect until the end of 2022 with several exemptions. Poland pledged to avoid buying Russian oil until the end of the year.
France’s total 98,100 tonnes of Murban crude to Polish refiner PKN Orlen, investors said. The shipment called Marathi unloaded the shipment at the Polish port of Gdansk on Aug. 7, according to information from Refinitiv Eikon.
Total declined to comment on the business activities, and representatives for pkn orlen did not respond to a request for comment.
Poland has relied on Russian oil as the main raw material for its refineries for years, but has tried to ease purchases from the Urals in recent years as relations between the two countries have cooled.
This year, Poland has particularly reduced its purchases of Russian oil in the Druzhba pipeline and sea cargoes, while expanding its purchases of select oils from Saudi Arabia, West Africa, the North Sea and the United States, according to investors and the knowledge of Refinitiv Eikon.
Murban oil is a smart replacement for the Urals in terms of quality, investors said. Murban has a lower sulfur content than the Urals and is lighter, while providing product performance when refined.
In the spring, Murban shipments began arriving in Europe as EU buyers moved away from Russian oil.
However, Murban is better suited for Asian oil markets as it is closer to regional buyers, is widely fed in Asia, and its value is lower than Dubai’s Asian benchmark. The degree is only sent to Europe if the arbitrage economy allows it, investors said.
“It’s unusual, however, other people are testing the crude,” a Singapore-based trader said in commenting on the shipment.
In August, no oil shipments from the Urals are planned for the time being in Gdansk, investors said. The port imported between 200,000 and 300,000 from the Urals in the month of May to July, according to Refinitiv data.
(Edited via Elaine Hardcastle)