Saudi Aramco considers selling Polish energy assets

Saudi Aramco is reportedly exploring the sale of its assets in Poland, according to industry sources. The company has reportedly commissioned JPMorgan Chase to conduct market research, with three unidentified entities appearing on a shortlist of potential buyers.

The potential transaction may involve the sale of Aramco Fuels Poland, a wholesale fuel company that reported approximately 18.2 billion PLN in revenue last year. A less likely but possible scenario includes the sale of Aramco’s 30 percent stake in the Gdańsk Refinery.

The Polish Ministry of Energy has stated it has received no official signals regarding the sale of refinery shares. Because the Gdańsk Refinery is classified as a protected entity under Polish law, any attempt to acquire significant participation or dominance in the company would require notification to and potential approval from the Minister of State Assets.

Saudi Aramco acquired its Polish package in 2022 for approximately 2.2 billion PLN as a condition for Orlen to complete its takeover of the Lotos Group. This package included a 30 percent stake in the Gdańsk Refinery, the entirety of Lotos Paliwa, and a portion of the airport aviation fuel business.