October 14, 2019 / 6:21 AM / a month ago

Lukoil agrees compensation with customers for oil contamination: CEO

FILE PHOTO: Russia's Lukoil Chief Executive Vagit Alekperov attends the Energy Week International Forum in Moscow, Russia October 3, 2019. REUTERS/Evgenia Novozhenina/File Photo

RIYADH (Reuters) - Russian oil producer Lukoil has reached an agreement with its customers about compensation for a major contamination of Russian oil in the Druzhba pipeline earlier this year, CEO Vagit Alekperov said on Monday.

There will be a three-way agreement with Hungarian energy firm Mol and Russian pipeline monopoly Transneft (TRNF_p.MM), Alekperov told reporters during a trip to Saudi Arabia. He said Lukoil plans to stabilize its oil supplies to Mol at between 300,000-500,000 tonnes a month.

Reporting by Olesya Astakhova; Writing by Tom Balmforth; Editing by Muralikumar Anantharaman

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