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

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly