KIEV, July 6 ??“ TNK-BP, a Russian oil company, does not plan to cancel an agreement on the use of Odessa-Brody pipeline to move oil for exports via a terminal near Odessa, TNK-BP Ukraine Ltd. President Oleksandr Horodetsky said.

The comment was made in response to reports that UkrTransNafta, an oil shipping monopoly, had recently borrowed $120 million in order to repay the loan taken from TNK-BP that had originally allowed the Brody-to-Odessa oil shipments.