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Responding to press reports, MOL said its announcement regarding a request to free up the reserves was made when the situation’s business impact became evident.
In the announcement made on February 16, MOL had noted that no deliveries of Russian crude through the Druzhba pipeline had arrived since January 27.
In its statement on Tuesday, MOL said the impact of the disruption of deliveries through the Druzhba became apparent after an official notification was received from Ukraine indicating that any restart of flows through the Druzhba was uncertain, and that MOL’s own crude inventories would be exhausted sooner or later.
MOL noted that deliveries through the Druzhba had been disrupted more than 20 times in recent years for technical, maintenance or other reasons.
In all cases, deliveries restarted before MOL’s own crude stocks were depleted, it added.
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