Commodities
Ukraine’s Lukoil Sanctions Unlikely to Cause Shortage, Mol CEO Says
Hungary and Slovakia each get at least a third of their crude supplies from Lukoil.
Photographer: Michaela Vatcheva/BloombergThis article is for subscribers only.
Hungary won’t suffer any oil shortages because of Ukraine’s decision to block the transit of Lukoil PJSC’s crude, the chief executive officer of refiner Mol Nyrt. said.
“Let’s not cause panic,” Zsolt Hernadi, chairman and CEO, told a conference in a recording shared by the Budapest-based company Monday. “I don’t think this will lead to an actual shortage.”