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Poland's Lotos takes Iranian crude

06 Jul 2016 13:44 (+01:00 GMT)
Poland's Lotos takes Iranian crude

Warsaw, 6 July (Argus) — Polish oil company Grupa Lotos, operator of the 210,000 b/d Gdansk refinery, has bought a cargo of 2mn bl of medium sour Iranian Light crude in a "test shipment" which may be followed by more purchases.

Lotos said today that it was the buyer of the crude on very large crude carrier VLCC Atlantas that left Kharg Island on 27 June heading to Gdansk. Lotos said it expects to discharge the tanker in Gdansk in mid August after earlier ship-to-ship reloading of 700,000 bl of crude to a smaller vessel allowing Atlantas to pass through the Danish straits.

Lotos said that its agreement to buy the cargo from Iran's state-owned NIOC is a one-off. But both sides have "the intention to continue cooperation in the area of crude shipments to Gdansk", Lotos said.

Lotos' Gdansk refinery runs predominantly on Urals crude. But the share of other grades in the refinery crude runs has been increasing. In the first quarter of 2016, Urals accounted for 75pc of the crude refined in Gdansk, while seaborne imports of other grades represented nearly 20pc. The remainder was crudes produced locally in Poland and Lithuania.

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