February 18, 2008 / 2:52 PM / 10 years ago

LUKOIL halts oil to Germany in new pricing row

MOSCOW, Feb 18 (Reuters) - Russian oil major LUKOIL (LKOH.MM) halted oil supplies to Germany in February in a renewed pricing dispute with the monopoly importer of Russian crude to the country, trading sources said on Monday.

"February supplies are zero. The firm was due to ship around 520,000 tonnes (by pipeline) this month, then it halved the plan and later scrapped it all together. It is the same old story with Sunimex," one trading source said.

In August last year, LUKOIL reduced supplies to Germany in a bid to win better terms from Sunimex, run by Sergei Kishilov, a prominent Russian oil industry figure. It later clinched a deal to restore supplies from September.

"I don't know whether other Russian producers are supplying crude instead of LUKOIL. But we have heard some talk that (German) refiners have been looking to import crude by sea," the source said. (Reporting by Dmitry Zhdannikov; editing by Christian Lowe)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below