Lukoil turns to the east

For the first time, Lukoil may start supplies in the eastern direction. The largest Russian private oil company has received the long-awaited permission of Transneft to enter the ESPO oil pipeline to export oil with a premium of $4 per barrel to Urals. But Lukoil has to prove the high quality of its oil and possible economic losses during the export in the western or southern directions for realization of this opportunity.

Lukoil has received the of Transneft for oil pumping via the ESPO pipeline , a representative of the  monopoly reported to the Kommersant yesterday. “But the final word rests with the Ministry of Energy, because it is authorized to form export schedules,” – Transneft specified. Yesterday the Ministry of Energy couldn’t comment on the situation. Lukoil confirmed that it was interested in oil delivery in the eastern direction. According to the source, close to the company, in July Lukoil plans to ship 100 thousand tons of oil from the port of Kozmino at the eastern point of ESPO. Lukoil didn’t specify for whom this oil is intended and if the company has concluded contracts in Southern-East Asia.