Transneft may redirect oil export flows from Lithuania to Yuzhnij port and port Odessa
Transneft may redirect oil export flows from Lithuania to the Black Sea ports. According to Fearnleys referring to Reuters, market participants note that Transneft has no capacities for Lithuania hence oil will go to either Yuzhnij or Odessa. Other permanent suppliers of Lithuania receiving about 290 thou barrels a day to be processed at Mazeikiu Nafta or to transit via terminal in Buting, confirmed this information but noted that this decision would not effect total oil export volume in Russia. Accident at Druzhba pipeline occurred in the past weekend caused a decrease in volume of oil going by this pipeline but official representatives said that oil transportation was recovered in full on Monday.
On Tuesday representative of Lithuanian Mazeikiu Nafta which possesses a refinery and an oil terminal, said oil was not being supplied to Lithuania so far and he had no information as regards when the delivery to be recovered. In May Russian Yukos sold 53.7% of shares of Mazeikiu Nafta to Polish PKN Orlen loading its plant with materials supplied by Rosneft and other Russian companies.