8/10, 12:26 PM (Source: TeleTrader)
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Hungary, Slovakia agree with Ukraine on oil transfer

Hungarian oil and gas company MOL Plc. and its Slovakian subsidiary Slovnaft a.s. announced on Wednesday they have reached a deal with Ukraine about the resumption of the transfer of crude to the central part of the European Union.

Meanwhile, Slovak Economy Minister Richard Sulik said the Druzhba pipeline stopped working not because of Russia or Ukraine but due to a technical issue with payments for the transfer, which has since been resolved. "I expect, based on the information I have, that the oil will flow in the next few hours," he added.

Earlier this week, JSC Transneft stated Ukraine has stopped the flow of Russian oil through the Druzhba pipeline that takes the commodity to Hungary, the Czech Republic, and Slovakia.

Baha Breaking News (BBN) / JR