Mol Nyrt., the Hungarian vitality firm, mentioned it reached a deal that can make sure the continued provide of Russian crude oil through a pipeline working via Ukraine.
The announcement from the Budapest-based firm on Monday got here after Ukraine successfully barred Lukoil PJSC from persevering with to make use of it as a transit nation in retaliation for Russia’s invasion. The deal will see Mol, which controls refineries in Hungary and Slovakia, take over crude provides on the Belarus-Ukraine border as of Sept. 9.
Beforehand, the Russian aspect was liable for bringing the crude oil to areas in Hungary and Slovakia near the border with Ukraine. Lukoil didn’t instantly reply to Bloomberg request for a remark despatched exterior ordinary enterprise hours.
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“The brand new association gives a sustainable answer for crude oil transportation on the Druzhba pipeline,” Mol Downstream Govt Vice President Gabriel Szabo mentioned, referring to the pipeline that connects Russia and Hungary through Ukraine. It didn’t specify which firm or firms would ship the provides.
Hungary and Slovakia are each landlocked nations that obtained non permanent exemptions from European Union vitality sanctions on Russia. Since Ukraine hardened sanctions on Lukoil in July, Hungary and Slovakia had been receiving crude oil through producers akin to Tatneft PJSC.
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