The largest oil collapse in the history of Russia came to an end


www.vsyako.netPhoto: Egor of Eremov / RIA Novosti

The supply of “clean” oil through the southern leg of the Druzhba pipeline is fully restored on 29 may. The Northern branch must earn 10 June. About this newspaper “Kommersant”. The incident became a major crisis in 55 years of export deliveries of Russian oil via this pipeline.

Refined oil arrived in Hungary, 29 may — a month after deliveries were paused. The Northern branch of the pipeline continues to stand. Receiving the oil refinery Leuna in Germany only works at half capacity.

Indirect costs (incurred due to downtime of refineries and associated loss) of the Russian company under the terms of the supply agreements to indemnify are not required. In addition there remain the loss of pipeline operators of Belarus and Poland for the lost transit, because there is no certainty that before the end of the year “Transneft” will be able to make up for lost volumes. Russia is also ready to compensate the damage caused to the equipment of the Belarusian Mozyr oil refinery because of “dirty” oil.

Overall economic losses “Transneft” will be moderate, on average, by estimates of the edition, the amount of compensation for “dirty” oil could reach 315 million dollars, equivalent to nine percent of the net profit of the company for the year 2018. Presumably, in this regard, the first Vice-Premier, Finance Minister Anton Siluanov sees no need to reduce dividends “Transneft”. The company also decided not to ask.

Video, photo All from Russia.


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