Contents tagged with Transneft

  • Transneft’s subsidiary in Belarus on verge of bankruptcy

    After a year of calm relations between Russia and Belarus in the oil sector are again beginning to deteriorate.

    Russian oil giant Transneft is considering the possibility of terminating the operations of its Belarusian subsidiary due to a sharp increase in taxes and pressure from Belarusian law enforcement agencies.

    Zapad-Transnefteprodukt, which supplies gasoline from Russian and Belarusian refineries to Hungary and Latvia, may suspend activities, Transneft President Nikolai Tokarev told …

  • Ukraine and Russia extend oil transit contract until 2030

    UkrTransNafta and Russia’s Transneft agreed on Tuesday to extend the current contract for transporting oil through Ukraine by another 10 years, until January 1, 2030, the Ukrainian company announced in a press statement.

    The document was signed in Zagreb by UkrTransNafta CEO Mykola Havrylenko and Transneft Vice President Sergey Andronov.

    Apart from extending the contract, another agreement was signed which updates a number of its terms, taking into account the current state of changes in the …

  • Chlorine found again in Russian oil

    Russian oil has once again been found to contain levels of organochlorides significantly above European standards. In spring, such contamination resulted in more than a month of downtime on the Druzhba pipeline as EU buyers returned more than a million tons of substandard oil to Russia.

    According to RIA Novosti, the Russian oil transport monopoly Transneft has discovered a high chloride content in the oil supplied by Bashneft, making it some of the dirtiest oil in the country.

    Bashneft, which …

  • Russia pays Ukraine 3.5 million euros in compensation for dirty oil

    Ukrainian oil company UkrTransNafta received from the Russian oil giant Transneft  compensation of 3.5 million euros for the supply of low-quality oil to the Ukrainian section of the Druzhba pipeline, reports UkrTransNafta's press-service.

    "This is not the final amount, as Transneft continues to reserve the capacity of UkrTransNafta [pipelines]," reads the message of the press-service.

    The amount of compensation is determined within the framework of existing contractual relations and depends …

  • Belarus to monitor quality of Russian oil

    GomelTransNeft Druzhba, the Belarusian operating company of the Druzhba oil pipeline, is in consultation with the state-owned Belneftekhim concern regarding the construction of new oil quality and quantity control points, announced Andrey Verigo, chief engineer of the operating company, as cited by BelTa.

    According to him, such a control node could be established on Belarus’s eastern border in 2021, and would help to ensure the safe operation of the Belarusian stretch of the pipeline and …

  • Russian Transneft pays compensation to Ukraine for contaminated oil

    The Russian oil company Transneft paid the Ukrainian oil pipeline company UkrTransNafta a compensation in the amount of €2.3 million for the poor-quality oil supplied through the Druzhba pipeline, reads the statement of the UkrTransNafta on Facebook.

    Such compensation will cover the company's lost earnings due to the temporary suspension of transit in April, the company stated. The company specified that the amount of payment is determined under an additional agreement to the current transit …

  • Chlorine-contaminated oil to pour into Russian refineries

    The Russian Energy Ministry has approved a plan to deal with the hundreds of thousands of tons of chlorine-contaminated oil which European buyers refused to accept and which the Russian oil transit monopoly Transneft was forced to pump back to Russia.

    Citing sources in the oil sector, Reuters reported that next week Transneft will begin mixing dirty oil with clean oil and even sending it to Russian oil refineries.

    The processing of the oil mixed with organochlorides will be entrusted to …

  • Russia to pay Kazakhstan $76 million for 'dirty' oil

    The Russian state-owned company Transneft will pay a compensation of about $76 million to the Kazakh national oil transporter KazTransOil for contaminated oil, reports Deutsche Welle news agency.

    "Loss of quality, downtime, and storage are included in the amount of compensation," - said one of the sources of Bloomberg. A formal agreement between the two operators has not yet been signed. Earlier, Reuters reported that Russia will pay Kazakhstan a fixed amount for contaminated oil.

    According …

  • Russian oil extraction hits three year low

    The contamination of Urals oil with chlorides and the subsequent suspension of the Druzhba pipeline, which accounts for 20% of Russia’s oil exports, has forced oil companies to drastically cut down on extraction.

    In the first three days of June, the average extraction of oil and gas condensate in Russia fell from 11.11 to 11.87 million barrels per day, a source familiar with the operational statistics told Reuters.

    Compared to March, extraction has decreased by 430,000 barrels per day (3.8%), …

  • Poland demands compensation from Russia for dirty oil

    Russia and Poland are currently conducting negotiations on how the chlorine-contaminated oil is to be discharged from the Druzhba pipeline, said Russian Deputy Prime Minister Dmitry Kozak, as cited by TASS. Warsaw wants to know how much Russia will be willing to pay if Poland takes on the task of pumping out part of the substandard oil.

    Kozak noted that the matter of cleaning the pipeline has already been resolved with a number of other countries. “Standard oil is already being supplied to …