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Business & Finance

Reuters reveals Russia’s tainted oil dispute drags on as buyers fight for payouts

Four major buyers of Russian oil are contesting the amount of compensation pipeline monopoly Transneft has offered over the supply of tainted barrels more than a year ago, Reuters sources said, raising the prospect of legal action. Up to 5 million tonnes of Russian oil were contaminated with organic chlorides on their way to Europe via the Druzhba pipeline and a Baltic port in April 2019, forcing Moscow to suspend exports to countries as far away as Germany. Oil companies and traders have held talks with Transneft over compensation for the oil, which had to be stored in special facilities, burned or heavily diluted.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe
Countries: Russia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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