Russian oil deliveries to China to reach 10 mm tons in 2005

Dec 29, 2004 01:00 AM

Russia will deliver 10 mm tons of oil to China in 2005, Gennady Fadeyev, head of the Russian Railways (RZhD) joint stock company, said. LUKoil and RZhD signed an agreement on oil deliveries to China, according to which LUKoil will deliver 3 mm tons of oil.
"It was the best imaginable present for us," Mr Fadeyev said about the agreement. LUKoil president Vagit Alekperov said in 2005 the company would deliver 3 mm tons of oil to China.
"We view this amount as objective and believe that we cannot fulfil the order," he said.

Mr Fadeyev told that Rosneft would deliver 4 mm tons of oil to China in 2005. According to him, Yukos does not plan to reduce oil deliveries to China. It "pledged to deliver 250,000 tons in January and does not plan to reduce deliveries," the RZhD head said.
Gennady Fadeyev pointed out that 2005 oil deliveries to China would add up to 10 mm tons, including 3 mm to be delivered by LUKoil, 4 mm by Rosneft, and 3 mm by Yukos. He recalled that oil deliveries to China by rail were to reach 6 mm tons, and this is "exactly as much as we have delivered," Mr Fadeyev stressed.

In his words, oil deliveries to China are to grow from 10 mm tons in 2005 to 15 mm tons by 2007. The company head stressed that more oil can be delivered to China.
"We see that deliveries proceed at a high rate and can exceed 10 mm tons," he said.

Source: Russian Information Agency Novosti
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