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Emergency Meeting Convenes to Discuss Energy, National Security

HUNGARY
EM BulletHomepagemarkets-real-timeBulletEmerging Markets News
  • The Druzhba pipeline feeding crude into Hungary from Ukraine was knocked offline yesterday due to transformer damage after Russian missile strikes in Ukraine. The government are to convene an emergency meeting to discuss the developments as well as national security later today.
  • Ahead of the meeting, foreign minister Szijjarto has said the pipeline may restart ‘soon’. MOL see sufficient crude reserves to meet refinery demand while repairs are being carried out, with the company’s refineries having a month’s worth of reserves before they need to tap into strategic stocks that extend to 90 days.
  • A statement from Transneft has said that Ukraine will not restart the Druzhba oil flow today.
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  • The Druzhba pipeline feeding crude into Hungary from Ukraine was knocked offline yesterday due to transformer damage after Russian missile strikes in Ukraine. The government are to convene an emergency meeting to discuss the developments as well as national security later today.
  • Ahead of the meeting, foreign minister Szijjarto has said the pipeline may restart ‘soon’. MOL see sufficient crude reserves to meet refinery demand while repairs are being carried out, with the company’s refineries having a month’s worth of reserves before they need to tap into strategic stocks that extend to 90 days.
  • A statement from Transneft has said that Ukraine will not restart the Druzhba oil flow today.