• Russia to consider giving Transneft control over oil input points

    Russian Prime Minister Dmitry Medvedev will ask the government to consider transferring operational management over oil input points to pipeline monopoly Transneft, according to the government website.

    Nikolai Tokarev, chief executive at Transneft, the world’s largest pipeline network, said at a meeting with Medvedev that Transneft was continuing talks on compensation for contaminated oil and that major volumes of it are located in Russia.

    Transneft is working to normalise the quality of the contaminated crude, he added.

    Flows through the Druzhba pipeline were suspended in late April after contaminated crude was discovered, sending shockwaves through global oil markets.

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