Europe

Thanks to Mole, we can restart the pipeline of friendships

Hungarian multinational oil and gas company Mol has held talks with Ukrainian and Russian sides on the reopening of the Friendship Pipeline (Druzhba Pipeline) and has sent transit fees for the use of the Ukrainian section, the company said Wednesday. did.

“By taking over the fee obligations, Mol provided a quick solution to the problem. Ukrainians promised that oil shipments, which had been halted days ago due to technical failures on the part of the bank, would resume in 2020. We can reopen in a few days,” the statement read.

According to information, the rapid action was justified by the supply situation: oil will be transported to Hungary, Slovakia and the Czech Republic via the southern section of the Friendship pipeline, and Mol has enough oil reserves in Hungary to last for several weeks. We have volume, but as a large regional company we are also responsible for ensuring supply to neighboring countries.

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However, Mol called on Hungarian residents in the current fuel market situation to act responsibly to ensure that everyone has enough fuel. In recent months, the company has

Demand at domestic petrol stations increased significantly, up 20% across the market and 50% in Mol’s network.

Meanwhile, on the supply side, the company faces many challenges. With foreign imports declining and several refineries in the region temporarily operating at reduced capacity, oil deliveries on the Friendship Pipeline have been suspended for several days.

Nevertheless, they stressed, there would be enough fuel in the country if everyone refueled as much as they needed. In line with previous recommendations, Mol continues to ask customers to refuel him up to 50 liters a day to ensure uninterrupted fuel supplies in the country.

as Hungary today As previously reported, Hungarians Refuel once a day At the MOL gas station. Meanwhile, another company, Normbenz Magyarország Kft., the owner and operator of the Lukoil station, limits the amount of fuel so that people can use 20 liters in low-pressure wells and up to 150 liters in high-pressure wells. announced that it could refuel the All at once.

For payment news, marketAfter the announcement, the Budapest Stock Exchange’s stock index BUX started to rise, gaining almost 2%. Among the leading shares, Mol and OTP rose 3% and 2.4% respectively in the first hour after the announcement.

The Hungarian forint also reacted positively, rising after the morning decline. The Euro currently trades at about 398 forints.

News reached Monday that crude oil was no longer arriving in Hungary via the Friendship Pipeline on Aug. 4 after Russian company Transneft halted deliveries. Transneft said Ukraine had stopped the flow of Russian oil to southern Europe because Western sanctions prevented Ukraine from receiving transit fees from Moscow. According to Transneft, payment for his August oil shipment to Ukrainian pipeline operator Ukrtransnafta was made on July 22, but was transferred on July 28 after no payment was made. rice field.

Featured photo: MTI/Komka Peter



https://hungarytoday.hu/thanks-to-mol-friendship-pipeline-can-be-reopened/ Thanks to Mole, we can restart the pipeline of friendships

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