No more oil from Yukos, Mol buys from Lukoil
Thursday, January 20, 2005, 17:04
Hungarian gas and oil company Mol Rt signed a 5-year supply agreement yesterday with Russian oil company Lukoil, in which the latter agreed to deliver 5 million tons of oil to Hungary and Slovakia, Mol?s management said. The decision came after near-bankrupt Russian oil giant Yukos discontinued its 7-million-ton export to Hungary, a move expected since last summer. Lukoil had been a Mol supplier before the agreement, thus the new contract only expands an existing trade relationship.