international magazine
08 / 2004


Russia's troubled giant Yukos crude exports disruptions, largely anticipated by foreign buyers, become reality. Following 16 September decision of the company's board, Yukos suspended crude deliveries to Lithuania's 260,000 b/d Mazejkiu refinery, outlined by the 17 June 2002 agreement with the Lithuanian side. According to the agreement, the Russian company guaranteed an annual delivery of no less than 4.8mn t (96,000 b/d) of crude to the Lithuanian unit for the period of ten years.