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Transneft sets cap of $15 on oil contamination compensation

Posted On: Jul. 25, 2019 5:23 AM CST

Russian oil pipeline operator Transneft PJSC has set a cap of $15 per barrel on compensation for oil contamination in its network, Reuters reported. Contamination was first discovered in April 2019 in Belarus and resulted in the stoppage of Russian oil exports through its Druzhba pipeline. The buyers include companies like Royal Dutch Shell PLC, BP PLC, Trafigura Group Pte. Ltd., Eni S.p.A., Total S.A. and Glencore PLC.

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