Skip to content
Advertisement

Business

Yukos oil supplies "have been suspended"

"Supplies have been suspended," Grupa Lotos spokesman Marcin Zachowicz told Gazeta Wyborcza. PKN Orlen declined to comment on the situation. "We had to suspend the fulfillment of several key contracts for oil exports. Over the past two days, we have informed our clients that we are forced to do so due to a 'force majeure'," said John Lush, general director of Petroval, Yukos' export arm. He added, that Petroval has stopped fulfilling its obligations to its clients, because recently nationalized Yuganskneftgaz, Yukos' main production subsidiary, stopped fulfilling its obligations to Petroval. Polish refineries now need to find alternative suppliers, which could prove to be costly, as they have their backs against the wall. More than 40% of PKN Orlen's oil supplies came from Yukos. (Gazeta Wyborcza, p. 25) T.J.

More from Business All