Russian court prohibits Transneft to suspend transit of Rosneft oil

MOSCOW, Dec 29 (PRIME) -- The Moscow Arbitration Court has prohibited oil pipeline monopoly Transneft to suspend transit of oil of Russia’s Rosneft via he company’s pipes from 2017 to protect Rosneft’s property interests, the court said in a statement on Thursday.

Rosneft has to file a suit against Transneft until January 25, or the restrictive measures will be lifted.

According to the materials of the case, Rosneft paid Transneft for oil transportation services in 2017, but the companies have not signed an agreement as they failed to coordinate its conditions.

Rosneft suggested Transneft bring the contract in line with legislation, while Transneft said that the development of a calculation method of process losses of oil on the basis of the real level and the order of compensations to oil senders is unreasonable. The pipeline monopoly also said that it has the right to suspend the transit of Rosneft’s oil from January 1, 2017, if the contract is not signed.

Rosneft said that daily transportation of oil through Transneft’s pipes amounts to up to 1.3 million tonnes, and suspension of transportation will lead to suspension of development of many fields and to an irredeemable damage inflicted on the company, its employees and the state due to a sharp deficit at the oil and oil product markets.

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