November 9, 2007 / 10:20 AM / 12 years ago

Ukraine refinery buys 165,000 T crude via Odessa

KIEV, Nov 9 (Reuters) - Ukraine’s largest refinery, left short of oil supplies due to a management dispute, bought 165,000 tonnes of crude for delivery to the port of Odessa, newspapers cited the refinery’s manager as saying on Friday.

Russia’s Tatneft TATN3.MM cut supplies to the Kremenchug refinery last month after its former manager, Pavel Ovcharenko, said a court had reinstated him and used police to expel the incumbent head.

The dispute has led to the refinery working at reduced capacity. “We bought 176,000 tonnes of Ukrainian oil, and 165,000 tonnes of crude will be supplied by tankers to Odessa,” Ukrainian Kommersant daily cited Ovcharenko as saying. His mention of Ukrainian oil appeared to refer to crude bought last month.

Ovcharenko did not specify the origins, but Russian traders said the oil was bought in Novorossisk for delivery to Odessa.

They said Kremenchug may face complications with oil deliveries direct from Odessa and is likely to use substitution — exchanging the Odessa delivery for oil supplied through pipelines, probably of Kazakh origin.

On Thursday, a Tatneft company executive told Reuters that Kremenchug had yet to pay for 600,000 tonnes of crude that had been supplied to the plant and that the company was ready to launch international law suits to resolve the dispute. (Reporting by Pavel Polityuk; writing by Sabina Zawadzki, editing by Anthony Barker)

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