Russia exported more crude oil in April

May 13, 1999 02:00 AM

According to figures released by the Fuel and Energy Ministry, Russia exported some 10.9 mm tons of crude oil in April of this year, 13.9% more than in March.The ministry stated that some of the oil had come from Kazakhstan and Azerbaijan but did not provide a detailed breakdown.
Other sources noted that the Russian state pipeline operator Transneft has set a quota of 920,000 tons per month for transports of Azerbaijani and Kazakh oil.
Accordingly, even if Russia sent only 9.98 mm tons of its own oil abroad, exports were up by at least 5% in April -- probably more, since Azerbaijan has been unable to export the full amount due to technical problems with an export pipeline leading through Chechnya.
In any case, it is clear that Moscow has not lived up to its pledge to shore up the world oil market by cutting exports. Russian officials promised representatives of major oil producers earlier this year to reduce the amount of crude delivered to world markets by 100,000 barrels per day. Nowthat world oil prices have risen -- a development for which Russia can take neither credit nor blame -- it is ignoring that promise, much as it ignored a similar promise last year to reduce oil exports by 80,000 bpd.
Industry experts said they expected Russian companies to keep pushing oil exports upward in order to take advantage of better conditions on the world oil market.

Source: NewsBase
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