MOL: Halt of Russian oil delivery no problem for Hungary

World

The halting of deliveries of Russian oil products to Hungary that pass through Ukraine will not affect the security or continuity of supply to the country, a spokesman for Hungary-based oil-and-gas company MOL has assured.

The MOL group gets feedstock for its four refineries from a number of sources, and this diversification ensures the security and continuity of supply, the company said in a statement. According to a company statement, the line that was cut off served a “supplementary role” in the supply of raw materials and will not have a noticeable effect on MOL’s operation.

On Monday, the news broke that due to current uncertainty regarding ownership of the pipeline, Russia-based Transneft had ceased diesel shipments to Ukraine and Hungary at the end of April. Spokesman Igor Dyomin informed Reuters news service that Transneft had begun work to decommission the pipeline just before an April 25 court hearing in Ukraine, in which the Ukrainian prosecutor’s office claimed ownership over the pipeline.

“At the moment, we are trying to figure out our position about the pipeline’s future,” Dyomin said.
Crossing through Belarus and Ukraine, the pipeline is the only one carrying Russian oil product to Hungary.

More Companies Take Action Against Corruption Analysis

More Companies Take Action Against Corruption

Karácsony Still Winner of Budapest Mayoral Election After Re... Elections

Karácsony Still Winner of Budapest Mayoral Election After Re...

2 Major Ground Handlers at Budapest Airport Join Forces Transport

2 Major Ground Handlers at Budapest Airport Join Forces

Summer Camp Prices Have Increased 10-15% Tourism

Summer Camp Prices Have Increased 10-15%

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.