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Lukoil is increasing its oil exports by sea due to the ceasing of transit through Ukrainian territory, and Hungary accuses Ukraine of blackmail.

Lukoil is increasing its oil exports by sea due to the ceasing of transit through Ukrainian territory, and Hungary accuses Ukraine of blackmail.

Lukoil is increasing its oil exports by sea due to the ceasing of transit through Ukrainian territory, and Hungary accuses Ukraine of blackmail.

The largest Russian private oil company, Lukoil, has increased oil exports through the country’s seaports, as supplies through the Druzhba pipeline to Slovakia and Hungary are currently suspended due to Ukrainian sanctions against Lukoil. As a result, Lukoil added another 340,000 tons of Urals oil to its July shipment plan through seaports.

At the same time, Rosneft and Gazpromneft added 200,000 tons and 100,000 tons to their July plans. Russian crude shipments from western ports in July were revised up by about 0.23 million barrels per day, compared with an initial estimate of about 1.79 million barrels per day, according to Reuters estimates.

Also, the Hungarian government has accused Ukraine of blackmailing Hungary and Slovakia by blocking the supply of Russian oil and state that if the situation does not change, a fuel shortage is possible.

 

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