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News // Oil and gas worldwide

Russian Baltic Capacity To Decline, Icluding Yukos Cargoes

01 November 2004 , 11:14435
Crude oil loadings at Tuapse port will drop to 88,000 barrels a day next month, from 94,000 barrels this month. The port will export 75,000 barrels a day, down 20,000 a day this month, according to a schedule. Primorsk in August shipped more oil than Novorossiisk for the first time, according to loading schedules issued by Russia's Energy and Industry Ministry.

Russian oil transporting company Transneft has increased the capacity of its Baltic pipeline to Primorsk to help end bottlenecks. The higher tariffs that oil companies are paying to send crude oil by rail instead of pipelines is costing Russia $5 billion a year, Lukoil Deputy Chief Executive Leonid Fedun said April 20.

Exports from the Baltic Sea port of Butinge, owned by Russia's OAO Yukos Oil Co, will decrease to 71,000 barrels a day in
November from 79,000 barrels this month. The ministry has only allotted Yukos two cargoes of crude exports from Butinge in each of the last two months.

Yukos was scheduled to load on average more than three cargoes out of the port in the first eight months of this year.

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