Lukoil Increases Seaborne Oil Exports as Druzhba Pipeline Suspended

(Reuters) — Lukoil, Russia's largest private oil company, has ramped up oil exports via the country's sea ports as its supplies via the Druzhba pipeline route to Europe are currently suspended, three market sources said and Reuters calculations showed.

Slovakia and Hungary said last week that they had stopped receiving oil from Lukoil, a key supplier, after Ukraine imposed a ban on the transit of resources from the Russian energy company via its territory.

Lukoil added another 0.34 million metric tons of seaborne Urals oil exports to its July loading plan: one 140,000-ton cargo from Novorossiisk on July 28-29 and two Urals cargoes of 100,000 tons each from Primorsk on July 27-28 and 28-29, the sources said.

The company had already added 0.34 million tons to its sea port exports on top of the initial July plan.

Rosneft and Gazpromneft also added 200,000 tons and 100,000 tons of oil respectively to their July loading plans for Russia's Baltic ports, the sources added.

As a result, Russia's July oil loadings form its western ports were revised up by some 0.23 million barrels per day (bpd) from the initial schedule to some 1.79 million bpd, Reuters calculations based on the data showed.

Lukoil did not reply to a request for comment.

An aide to Hungary's prime minister on Friday accused Ukraine of blackmailing Hungary and Slovakia by halting oil deliveries from Lukoil.

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