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Mol unlikely to claim damages related to start-of-year crude delivery disruption

Hungarian oil and gas company Mol is not likely to announce a damages claim related to a disruption of crude deliveries from Russia for several days at the beginning of January, Mol's director for strategy and business development Lajos Alacs told MTI on Friday.

The disruption, resulting from a dispute over tariffs between Russia and Belarus, resulted in minor technical costs, Alacs said. To compensate for the disrupted deliveries, Mol took about 10,000 tons of crude from strategic reserves, paying market price for the oil. Mol is obligated to replace the reserves within six months, but it will do so sooner, by the end of January. Hungary has 547,000 tons of crude and 645,000 tons of oil products in reserves. The country's crude reserves are enough to last for a month and the oil products reserves enough for 90 days. Mol had technical crude reserves of 250,000 tons at the end of December. The amount changes often, but is always sufficient to meet demand for three days to a week. Mol does not reveal its level of oil products reserves. (Mti-Eco)