Hungarian oil and gas company MOL announced that it has started transporting crude oil from Azerbaijan to Slovnaft’s refinery in Bratislava via Omisalj terminal in Croatia and JANAF oil pipeline.
The statement from the group said that it transported crude oil produced at the Azeri-Chirag-Gunashli oil field in Azerbaijan, in which it is a co-owner, all the way to the Slovakian Slovnaft’s refinery in Bratislava, evaluating this as a big step in its efforts to increase flexibility in the procurement of crude oil.
The arrival of the tanker Seavelvet from the port of Ceyhan in Turkey to Omisalj and then the transportation of oil to Bratislava via JANAF pipeline is a success story for the MOL Group, as it represents the completion of its supply chain considering that it will process and sell derivatives refined in one of its own refineries using crude of oil produced in an oil-field of which the company is a co-owner.
MOL states that oil will be transported from the Sangachal terminal near Baku to Ceyhan via the BTC pipeline, in which the MOL Group has an 8.9 % ownership stake. Upon arrival from Ceyhan to Omisalj, the cargo of 90,000 tons of crude oil will be transported via JANAF pipeline to Slovnaft’s refinery.
In April, the test production of Azeri Light oil derivatives, produced at the Azeri-Chirag-Gunashli oil field, one of the largest fields of the Azerbaijani economy, in which MOL Group owns a 9.57 % stake, will begin. This field represents 15 % of MOL Group’s total production and 25 % of total reserves.
This comes after the successful testing of several types of oil from the Middle East and the Caspian region in Slovnaft’s refinery, and represents another important milestone on the MOL Group’s path towards greater flexibility in the procurement of crude oil due to European sanctions on the export of derivatives from countries member of the EU.
MOL also said that it will continue to import Russian crude oil through the Druzhba pipeline because it believes that the best way to guarantee the security of fuel supply in the Central and Eastern European region is to maintain traditional supply channels while exploring and securing alternative ones.
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Tags: Azerbaijan, Mol, oil, oil supply, Other