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2014-08-12 18:15:00

RUSSIA MAY REDIRECT

RUSSIA MAY REDIRECT

The Russian oil pipeline company Transneft is ready to redirect Europe-bound oil exports away from the Ukraine transit route, Transneft spokesman Igor Dyomin said on Friday.

Transneft made the statement after Ukrainian Prime Minister Arseniy Yatsenyuk announced earlier on Friday that Ukraine considered imposing a series of sanctions against Russia that could include a ban on air flights and the transit of energy products across its territory.

Transneft's oil supplies via Ukraine can be rechanneled into the northern stretch of the Druzhba oil pipeline and the port of Ust-Luga in northwest Russia, the company's spokesman said.

This year, Russia's oil exports to Slovakia, Hungary and the Czech Republic via Ukraine were expected at 14 million tons.

Transneft earlier said it could re-channel oil supplies through Russian ports, primarily via the Druzhba pipeline's northern section and the port of Ust-Luga to the Mediterranean ports of Trieste and Omisalj. Transneft could also use oil swap deals but a route change would slightly push up the cost of oil deliveries, the company said at the time.

The Transneft spokesman added that a change in the oil delivery route would increase the cost of oil supplies for European consumers.

itar-tass.com

Tags: RUSSIA, EUROPE, OIL, TRANSNEFT

Chronicle:

RUSSIA MAY REDIRECT
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SAUDI ARAMCO IPO

Saudi Arabia is considering delaying the international portion of the giant initial public offering of its state oil company until at least 2019, according to people familiar with the situation, who said a domestic share sale in Riyadh could still happen next year.

RUSSIA MAY REDIRECT
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SAUDI'S BANKS ARE BETTER

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RUSSIA MAY REDIRECT
October, 16, 11:40:00

OPEC EXPECTATION

The Organization of Petroleum Exporting Countries and allies including Russia have been cutting oil production this year to bring fuel inventories in industrialized nations back in line with the five-year average.

RUSSIA MAY REDIRECT
October, 16, 11:35:00

JAPAN LNG INVESTMENT

The Japanese government will offer $10 billion to support firms bidding to build liquefied natural gas (LNG) infrastructure around Asia, the Nikkei business daily said on Monday.

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