Slovakia's Slovnaft to invest €80m in Hungary oil pipeline link

13 September 2011 17:41  [Source: ICIS news]

LONDON (ICIS)--Slovakia' Slovnaft is set to invest €80m ($108m) in upgrading an oil pipeline link to Hungary that will end its dependency on crude oil sourced from Russia, the refining and petrochemical company said on Tuesday.

The upgrade would enable Slovnaft to process oil flowing from the Adria pipeline that runs from Croatia's Adriatic coast to Hungary, it added.

Up to 6m tonne/year of Adria crude could be transported to Slovnaft's refinery in Bratislava, a figure which nearly exactly matched the unit's processing capacity, the company said.

($1 = €0.74)


By: Will Conroy
+44 20 8652 3214



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