<div id="readability-page-1"><div>After several weeksof the main oil artery into Europe being halted - perhaps as Ukraine awaited the outcome of the Hungary election and the greenlighting of Europe's €90 billion loan to Kiev - Zelenskyy stated the Druzhba oil pipeline will be ready to ship Russian oil again. There is just one problem:Russia said it would halt halt Kazakh crude-oil shipments to Germany through the major Druzhba pipeline next month after reporting &#34;technical issues.&#34;The move would deal a major blow to the PCK Schwedt refinery which supplies most of the fuel to Berlin, as well asjet fuel and heating oil for the city and the surrounding area. The cutoff will increase concerns over fuel availability just as war in the Middle East squeezes global energy supplies.It also adds to Germany's fuel supply concerns as the Iran war disrupts flows from the Gulf.While Kazakhstan has received no official communication from Moscow, it got an informal notification, Energy MinisterYerlan Akkenzhenovsaid Wednesday. Russian Deputy Prime MinisterAlexander Novakconfirmed the planned suspension, citing “current technical abilities,” according to Interfax.Rosneft Deutschland confirmed it received information that flows will halt May 1, and said it’s assessing the potential impact on fuel supplies.&#34;At the same time, existing options will be utilised to ensure security of supply in Germany,&#34; it said.It also said that the lack of supplies from Kazakhstan - which cover about 17% of Schwedt's needs - did not &#34;ultimately jeopardise the security of supply of petroleum products in Germany.&#34;The Federal Network Agency, the country's energy regulator, which acts as trustee of Rosneft Germany's activities, said there might still be regional pricing effects, adding it was closely coordinating with the company.Kazakhstan's oil exports to Germany via Russia's Druzhba pipeline totalled 2.146 million metric tons, or around 43,000 barrels per day, last year, an increase of 44% from 2024, and 730,000 tons in the first quarter of 2026.In the first quarter of this year, Kazakhstan almost doubled crude flows to Germany to 730,000 tons, equivalent to almost 60,000 barrels a day.“For the month of May, our transit through the Atyrau-Samara link and further on via the Druzhba pipeline toward the Schwedt refinery is zero,” Akkenzhenov said, according to his press service. The Energy minister said Kazakhstan can ship oil via Russia’s Baltic port of Ust-Luga and the Caspian Pipeline Consortium terminal on Russia’s Black Sea coast, Interfax reported.The Schwedt refinery, which is part-owned by Shell Plc and Eni SpA, already gets some crude via Poland’s Baltic port of Gdansk, and Polish pipeline operator PERN said Wednesday it’s ready to supply more if needed.The halt of flows via Druzhba “does not ultimately jeopardize the security of supply for petroleum products in Germany, even if the PCK Schwedt refinery were to operate at reduced capacity,” Germany’s Economy Ministry said in a statement.Supplies to Germany have been carried over a northern section of the pipeline, separate from the southern one that supplies Hungary and Slovakia and is about to resume operation after repairs following a Russian drone strike in January.Its southern branch, which serves Hungary and Slovakia, was shut earlier this year following damage from a Russian attack on a key pumping station.Druzhba is one of the longest oil pipeline networks ever built.<figure><img width="500" height="431" src="https://imageproxy.pbkrs.com/https://www.zerohedge.com/_next/image/query-cT03NSZ1cmw9aHR0cHM6Ly9hc3NldHMuemVyb2hlZGdlLmNvbS9zM2ZzLXB1YmxpYy9pbmxpbmUtaW1hZ2VzL2RydXpoYmElMjBwaXBlbGluZV8wLnBuZyZ3PTE5MjA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://www.zerohedge.com/_next/image/query-cT03NSZ1cmw9aHR0cHM6Ly9hc3NldHMuemVyb2hlZGdlLmNvbS9zM2ZzLXB1YmxpYy9pbmxpbmUtaW1hZ2VzL2RydXpoYmElMjBwaXBlbGluZV8wLnBuZyZ3PTE5MjA"/><figcaption>The Druzhba pipeline network originates in Russia and extends into Eastern and Central Europe</figcaption></figure>Ukrainian President Volodymyr Zelenskiy said this week that repairs have now been completed, allowing the resumption of Russian flows along that section and paving the way for a much-needed €90 billion European Union loan so Ukrainian oligarchs can continue purchasing $500 million apartments in Monte Carlo.The giant Druzhba pipeline was built in Soviet times to connect Russia’s oil network with refineries in central Europe. Germany cut ties with Moscow following 2022’s full-scale invasion of Ukraine, but Hungary and Slovakia are still reliant on Russian barrels to feed their plants.In 2023, PCK Raffinerie reached an agreement to receive Kazakh oil via the Druzhba link for the Schwedt facility, replacing the Russian volumes. The refinery is still majority-owned by a local unit of Russia’s Rosneft PJSC, which is under the temporary trusteeship of the German government.</div></div>

SHEL

盧克石油公司(ADR)

標普油氣設備與服務 ETF - SPDR

俄羅斯將從 5 月 1 日起暫停通過友誼管道向德國運輸哈薩克斯坦石油，原因是 “技術問題”，這將影響為柏林提供燃料的 PCK Schwedt 煉油廠。這一暫停引發了人們對在中東衝突持續期間燃料供應的擔憂。哈薩克斯坦能源部長表示尚未收到來自莫斯科的正式溝通，而俄羅斯石油德國公司正在評估對供應的影響。儘管暫停，德國經濟部表示石油產品供應的安全性仍然完好，且有替代運輸路線可用

俄羅斯將停止通過友誼管道向德國輸送哈薩克斯坦石油