Lukoil's crude supplies to Hungary, Slovakia stabilise, Kommersant reports
MOSCOW, Dec 2 (Reuters) -Oil flows from Russia's second largest crude producer Lukoil LKOH.MM to Hungary and Slovakia via the Druzhba pipeline have stabilised following an interruption caused by sanctions, Kommersant daily reported on Monday.
Lukoil resumed supplies to refineries operated by Hungary's energy company MOL MOLB.BU in September after a halt to shipments following Kyiv's addition of Lukoil to a sanctions list in June.
The newspaper, citing unnamed sources familiar with the matter, said that supplies via a Hungarian trader Moltrade-Mineralimpex Zrt reached around 300,000 metric tons (71,000 barrels per day) in October, on a par with supplies in September.
Half of the volumes were exported to MOL's refinery in Hungary, while the other half was sent to MOL's plant in Slovakia.
In contrast to many other European Union countries, Hungary seeks to maintain close political and business ties to Russia, and continues to rely on Russian energy.
Together with Slovakia and the Czech Republic, it has been granted an exclusion from a European Union embargo on Russian oil because of its lack of alternatives, but the EU has urged it to diversify its resources.
In total, Russian oil companies exported around 853,000 tons of oil via Druzhba to the refineries in Slovakia and Hungary in October, the newspaper said.
Reporting by Vladimir Soldatkin; editing by Barbara Lewis
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.