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Transneft says oil flows via Samara-Tikhoretsk pipeline restored

January 23/2018

MOSCOW (MRC) -- Oil supplies via the Russian Samara-Tikhorets pipeline, damaged by fire on Thursday, were restored on Sunday after completion of repair work, reported Reuters with reference to oil pipeline monopoly Transneft's statement.

The pipeline, which ships Siberia Light oil to refineries and Russian Black Sea export terminals, caught fire in the Saratov region on Thursday.

As MRC informed before, Transneft will increase oil exports via its pipeline system to 242.4 MMt in 2018.

Besides, we remind that Transneft is buying a stake in the oil terminal at the Baltic Sea port of Ust-Luga from businessman Andrei Bokarev. Transneft-Baltica's request to buy a 25% plus one share stake in terminal was approved by the Federal Antimonopoly service in H2 October 2017. The terminal, launched in 2015, has a capacity of 30 MMt of oil products per year. Bokarev owns 74% and oil trader Gunvor holds the remainder. Transneft confirmed that it was buying the stake in the terminal but did not disclose the seller or price. Gunvor built the terminal and sold a 74 percent stake in the terminal to Bokarev in 2015. Analysts at the time estimated the value of Gunvor's deal with Bokarev at USD1.9 BЦUSD2.2 B at current exchange rates.
Author:Margaret Volkova
Tags:crude and gaz condensate, Transneft, Russia.
Category:General News
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