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Russian Transneft pays compensation to Ukraine for contaminated oil

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Christian Fernsby ▼ | August 2, 2019
Transneft
Russian businesses   Transneft

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 agreement with Transneft.

At the end of July, Transneft approved the amount of payments for dirty oil in Druzhba pipeline. The company said it is ready to pay oil companies up to $15 per barrel as compensation.

In mid-April, the export of oil through the Druzhba pipeline was suspended due to the increased concentration of organochlorine compounds in the oil. Poland, Germany, Hungary, Slovakia, and Ukraine suspended the purchase of Russian oil. From May 21, the Ukrainian operator has resumed the transit of Russian oil to Europe, and on July 1, Transneft fully resumed the supply of oil through the Druzhba pipeline.


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