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Energy group MOL’s July Urals oil imports fall short of plan, sources say

Monday, 12 August 2024 | 00:00

Supplies of Russian Urals crude oil to MOL’s refineries in Slovakia and Hungary via the Druzhba pipeline in July were 17% below initial nominations, data provided by industry sources and Reuters calculations show.

The Hungarian energy company owns refineries in landlocked Hungary and Slovakia, both of which are fed by the Druzhba pipeline’s southern spur.

MOL imported 0.36 million metric tons of Urals to Slovakia in July, down from 0.46 million tons nominated for last month, while Urlas supplies to Hungary were 10% below the initial plan, the sources said.

Last month Slovakia and Hungary said they stopped receiving oil from Lukoil after Kiev imposed a ban on transit of resources from the Russian energy company through Ukrainean territory.

The suspension of Lukoil supplies to MOL’s plants in July was partially offset by higher exports by Russia’s Tatneft, the sources added.

Lukoil did not respond to a request for comment.

MOL refining subsidiary Slovnaft said it will not confirm nor deny that July supplies were below its initial plans.

Hungary and Slovakia received the same volume of oil in July as before the ban, the head of Ukraine’s Naftogaz said on Tuesday, while Reuters sources said that MOL had planned to boost Urals crude imports in July after seasonal maintenance.

“Slovnaft was undergoing maintenance from May 1 until June 15 and imported some 70 tons of Urals in June … so July nominations were much higher than in June,” one industry source said.
Source: Reuters (Reuters reporters in Moscow and Jan Lopatka in Prague, Editing by David Goodman)

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