MOL Negotiates Restart of Friendship Pipeline
MOL has negotiated with the Ukrainian and Russian sides to restart of Druzhba (Friendship) pipeline, by transferring the outstanding transit fee, the company announced, according to business daily Világgazdaság.
"By taking over the payment obligation, Mol provided a quick solution to the problem," the announcement read. "According to the Ukrainians' promise, crude oil delivery can resume within a few days, which was stopped a few days ago due to technical obstacles on the bank's side."
Quick action was justified by the supply situation, as the crude oil delivered not only to Hungary, but also to Slovakia and the Czech Republic, comes through the southern section of the Friendship pipeline.
Although MOL has its own reserves in Hungary sufficient for several weeks, as a large regional company it said that it must also assume responsibility for the security of supply in the surrounding countries.
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