15:30 23.04.2018

Belarusian arbitration court rules to collect $7.9 mln from Ukrtransnafta in oil pumping dispute with BelOil

2 min read
Belarusian arbitration court rules to collect $7.9 mln from Ukrtransnafta in oil pumping dispute with BelOil

The international arbitration court of the Belarusian Chamber of Commerce and Industry on September 1, 2017 ruled to collect t$7.857 million from public joint-stock company Ukrtransnafta in favor of CJSC Belarusian Oil Company (BelOil) in the litigation over pumping of oil via the Yuzhny-Brody-Mozyr pipelines, according to an annual report of the Ukrainian company.

In particular, the court decided to collect $24.021 million of compensation from BelOil for the unused volumes of transportation under the "pump or pay" contract condition and $13.878 million of compensation from Ukrtransnafta for the change of the quality of oil. BelOil won the litigation with $7.857 million in its favor.

According to the report, BelOil on February 8, 2018 filed a petition to the Kyiv's court of appeals to receive a permit to execute the ruling of the Belarusian arbitration court.

Ukrtransnafta is waiting the court proceedings will finish by the end of 2018. The company reserved funds of UAH 220.514 million for the execution of the ruling.

As reported, BelOil in 2011-2012 was supposed to supply at least 8 million tonnes of oil (4 million tonnes per year) of Azeri Light brand at Yuzhny oil terminal for subsequent pumping of this oil to the Mozyr refinery along the Yuzhny-Brody-Mozyr route in the "pump or pay" mode. Of the planned 4 million tonnes in 2011, only 0.9 million tonnes were delivered and pumped. At the same time, the contract of compensation for quality losses was additionally signed, as BelOil supplied Azeri Light to the Yuzhny terminal, while Urals oil was pumped via the oil pipeline to Mozyr, which is a cheaper grade of oil.

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