international magazine
08 / 2004


YUKOS: EXPORTS FACE DISRUPTIONS



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.