June 6, 2019 / 10:19 AM / 3 months ago

Lukoil CEO sees tainted oil compensation at no more than $15/bbl

FILE PHOTO: Lukoil logos are pictured at Gorkovsky Automobile Plant (GAZ) in Nizhny Novgorod, Russia April 16, 2019. REUTERS/Maxim Shemetov

ST PETERSBURG, Rusia (Reuters) - A discount of not more than $15 per barrel of crude would be fair compensation for buyers affected by the large-scale contamination of oil pumped through the Druzhba pipeline, the head of Russia’s second-biggest oil firm, Lukoil, told Reuters.

CEO Vagit Alekperov, asked about a benchmark of $15 per barrel proposed by other oil companies affected, said in an interview: “It would be around that figure, but not more.”

He also said that pipeline monopoly Transneft had agreed to cover all losses relating to the contamination, but that Lukoil had not received any claims from its customers seeking compensation.

Alekperov said the only impact Lukoil felt was on volumes of crude it exported to Hungary. The volumes involved were around 100,000 tonnes.

Part of that contaminated oil would be stored in Hungary, under an agreement with Hungarian oil firm MOL, while Lukoil had moved part of it to its refinery in Nizhny Novgorod, in central Russia.

Reporting by Katya Golubkova and Olesya Astakhova; writing by Christian Lowe; editing by Jason Neely

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