Econ Min: Early to talk about dividends revision by Transneft

GORKI, Moscow Region, May 24 (PRIME) -- Discussions on revision of dividends by Russian oil pipeline monopoly Transneft following crude contamination in the Druzhba pipeline are premature, Economic Development Minister Maxim Oreshkin told reporters on Friday.

“It is very premature to talk about it as we have no understanding of the size of the problem we are facing. It is necessary to finish important technical operations, they are difficult, so that the Russian and the Belarusian sides could develop an agreed position on the damages that were unfortunately sustained,” he said.

Earlier in May, Deputy Prime Minister Dmitry Kozak said that Transneft’s expenses after the incident will be taken into account while setting the company’s dividends.

The sum of compensation for the incident has not been set yet, but it is early to talk about state support of Transneft, the company has its own resources, Oreshkin also said and added that evaluation of the loss will be finished within a month.

The emergency can influence only Russia’s monthly macroeconomic figures, but will not hurt the annual results, the minister said.

The problem with the quality of oil coming from Russia to Europe across Belarus via the Druzhba pipeline appeared in mid-April. As oil contaminated with chlorides moved through the pipes, Poland stopped receiving crude from Druzhba on April 24, and Ukraine on April 25. Good-quality oil started coming from Russia to Belarus on May 2.

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