[the_ad id="121217"]

popular articles

Lukoil halts oil transits to Slovakia and Hungary

Ukraine has interrupted the transit of Lukoil oil to Slovakia and Hungary, heightening tensions over the supply of Russian oil to Europe via the Druzhba pipeline.
Sanctions Ukraine interrompent pétrole Lukoil

Please share:

Ukraine’s recent decision to impose sanctions on Lukoil has disrupted oil flows to Slovakia and Hungary. Both countries, dependent on Russian oil, must now find alternative solutions to maintain their energy supplies. This situation highlights the vulnerability of oil supplies to Europe via the Druzhba pipeline, built during the Soviet era, which remains one of the last major delivery routes for Russian oil to the continent.

Impact of Ukrainian Sanctions

Slovakia and Hungary, which have historically received a significant proportion of their oil via the Druzhba pipeline, are now facing difficulties following the implementation of Ukrainian sanctions against Lukoil, Russia’s second largest oil producer. The Slovak authorities have confirmed that Lukoil deliveries have ceased, but other Russian suppliers continue to supply the country. The Slovakian Ministry of the Economy stated that overall Russian oil deliveries were not completely interrupted, but that the absence of Lukoil required logistical adjustments.

Reactions and Alternative Solutions

In Hungary, Foreign Minister Peter Szijjarto said that although gas flows from Russia were continuing normally via the TurkStream pipeline, Lukoil’s oil transit through Ukraine had been interrupted. Hungary is exploring legal and logistical solutions to restore these flows, underlining the strategic importance of Russian oil for national energy security.
The main refineries in both countries, including MOL in Hungary and Slovnaft in Slovakia, depend to a large extent on oil transported via Druzhba. MOL, which owns refineries in Hungary and Slovakia, is planning major investments to diversify its sources of supply, including importing oil by sea from the Croatian port of Omisalj for its Hungarian refinery.

Economic consequences and future strategies

The cessation of Lukoil supplies complicates refinery operations, especially for Slovnaft, which has fewer alternative options due to its landlocked position. On the other hand, MOL’s Duna refinery in Hungary can obtain its oil supplies by other sea routes.
The Ukrainian sanctions against Lukoil, in force since June, demonstrate the complexity of energy relations in Eastern Europe and the impact of geopolitical tensions on energy supplies. Diversification of supply sources and routes is becoming increasingly crucial for European countries in order to guarantee their long-term energy security.
Slovakia and Hungary continue to receive oil from other Russian companies, but the cessation of Lukoil deliveries accentuates the need for long-term solutions to secure energy supplies.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Ghana plans to source petroleum products from Nigeria's Dangote refinery, aiming to reduce its monthly fuel import bill, estimated at $400 million.
The Thali oil project of Tower Resources in Cameroon receives a major financing offer that could unlock crucial advancements, conditional on obtaining an essential license extension.
The Thali oil project of Tower Resources in Cameroon receives a major financing offer that could unlock crucial advancements, conditional on obtaining an essential license extension.
Canadian company Zimar Inc has signed an agreement to develop a modular refinery in Niger, aiming to increase the country’s oil processing capacity and stimulate refined product exports.
Canadian company Zimar Inc has signed an agreement to develop a modular refinery in Niger, aiming to increase the country’s oil processing capacity and stimulate refined product exports.
CNOOC Limited, a Chinese oil and gas company, reports record growth in production and net profit for the first three quarters of 2024, marking unprecedented performance despite an unstable external environment.
CNOOC Limited, a Chinese oil and gas company, reports record growth in production and net profit for the first three quarters of 2024, marking unprecedented performance despite an unstable external environment.
[the_ad id="121209"]
[the_ad id="121211"]
Galp has launched a new drilling phase to assess the potential of Mopane, off the coast of Namibia, marking a turning point for the development of what could become the country’s largest oil discovery.
African economies dependent on oil are stagnating, growing at half the rate of the rest of the region. The IMF highlights a lack of diversification and investment as key factors behind this lag.
African economies dependent on oil are stagnating, growing at half the rate of the rest of the region. The IMF highlights a lack of diversification and investment as key factors behind this lag.
Benin intensifies efforts to attract investors in the offshore oil sector. TGS begins 3D seismic surveys to identify new offshore oil prospects in Beninese waters.
Benin intensifies efforts to attract investors in the offshore oil sector. TGS begins 3D seismic surveys to identify new offshore oil prospects in Beninese waters.
Kerosene demand in Asia remains strong, reinforcing its position over diesel, despite the massive arrival of cargoes from India and the Middle East, which could reverse this trend.
Kerosene demand in Asia remains strong, reinforcing its position over diesel, despite the massive arrival of cargoes from India and the Middle East, which could reverse this trend.
[the_ad id="121213"]
[the_ad id="121214"]
In September, Brazil replaced Malaysia as the top supplier of blended bitumen to China, due to banking restrictions and new trade opportunities with Latin American countries.
BW Energy plans to reach a production of 40,000 barrels per day off the coast of Gabon by the end of 2024, thanks to an intensive drilling campaign in the Dussafu block.
BW Energy plans to reach a production of 40,000 barrels per day off the coast of Gabon by the end of 2024, thanks to an intensive drilling campaign in the Dussafu block.
Venezuela has arrested the former oil minister and ex-CEO of PDVSA over accusations of collaborating with U.S. intelligence, sparking new political tensions in the country.
Venezuela has arrested the former oil minister and ex-CEO of PDVSA over accusations of collaborating with U.S. intelligence, sparking new political tensions in the country.
South Sudan has resumed its crude oil exports via Sudan after a prolonged halt due to technical issues. This restart marks a crucial step for the country’s struggling economy.
South Sudan has resumed its crude oil exports via Sudan after a prolonged halt due to technical issues. This restart marks a crucial step for the country’s struggling economy.
The Gabon Oil Company (GOC) strengthens its position in the oil sector by purchasing 15% of Baudroie shares, previously owned by TotalEnergies. This acquisition aims to increase national production.
WTI Midland crude from the Permian Basin has become too light for refining infrastructure, posing significant challenges for producers and refineries. This directly impacts margins and international demand.
WTI Midland crude from the Permian Basin has become too light for refining infrastructure, posing significant challenges for producers and refineries. This directly impacts margins and international demand.
An oil spill of 30-40 tonnes was contained by Shell at Bukom, Singapore, without affecting operations. The company is collaborating with the authorities for clean-up while continuing its local restructuring.
An oil spill of 30-40 tonnes was contained by Shell at Bukom, Singapore, without affecting operations. The company is collaborating with the authorities for clean-up while continuing its local restructuring.
Canadian Natural Resources Ltd strengthens its export capacity by increasing its share on the Trans Mountain pipeline following the acquisition of new assets from Chevron. This strategic move aims to diversify markets and secure oil flows to the Asia-Pacific region.
Canadian Natural Resources Ltd strengthens its export capacity by increasing its share on the Trans Mountain pipeline following the acquisition of new assets from Chevron. This strategic move aims to diversify markets and secure oil flows to the Asia-Pacific region.
[the_ad id="121219"]
Aramco's CEO, Amin Nasser, forecasts a stable global petroleum demand exceeding 100 million barrels per day by 2050, despite ongoing energy transition efforts and economic stimulus measures in key regions.
Southeast Asia's increasing energy demand will take center stage, according to Fatih Birol of the International Energy Agency (IEA). Ensuring the security of energy flows amid geopolitical turmoil is paramount for the region.
Southeast Asia's increasing energy demand will take center stage, according to Fatih Birol of the International Energy Agency (IEA). Ensuring the security of energy flows amid geopolitical turmoil is paramount for the region.
Nigeria and its oil partners, including Shell, must make a final investment decision on the offshore Bonga North project by the end of 2024, aiming to increase reserves and national production.
Nigeria and its oil partners, including Shell, must make a final investment decision on the offshore Bonga North project by the end of 2024, aiming to increase reserves and national production.
Venezuela's oil sector is shaken by the arrest of former minister Pedro Tellechea, revealing ongoing political and economic tensions within the industry.
Venezuela's oil sector is shaken by the arrest of former minister Pedro Tellechea, revealing ongoing political and economic tensions within the industry.
Shell and the Maritime and Port Authority (MPA) responded swiftly to an oil spill in Bukom. The cleanup operations mobilized various equipment, highlighting the environmental and financial challenges associated with oil exploitation.
Pemex postpones strategic exploration and production projects in the last quarter of 2024, aiming to save USD 1.35 billion while grappling with growing debt and operational challenges.
Pemex postpones strategic exploration and production projects in the last quarter of 2024, aiming to save USD 1.35 billion while grappling with growing debt and operational challenges.
Phillips 66 announces the closure of its Wilmington, California refinery, scheduled for the fourth quarter of 2025, citing changes in market fundamentals rather than new state regulations.
Phillips 66 announces the closure of its Wilmington, California refinery, scheduled for the fourth quarter of 2025, citing changes in market fundamentals rather than new state regulations.
Chevron and the Nigerian National Petroleum Corporation (NNPC) announce a significant oil discovery in the Niger Delta, thereby reinforcing their commitment to a region marked by the withdrawal of international oil companies.
Chevron and the Nigerian National Petroleum Corporation (NNPC) announce a significant oil discovery in the Niger Delta, thereby reinforcing their commitment to a region marked by the withdrawal of international oil companies.

Advertising