Russian Oil Exports Rise To Clients Who Can Pay
17 August 1994
Russia exported 12 percent more oil outside the former Soviet Union in the first seven months of the year than it did in the same period in 1993, and one top official said the exports would rise further.
Fuel continues to make up the bulk of Russia's exports, an important source of hard currency for the struggling economy.
Many of Russia's clients in the former Soviet Union are verging on insolvency and owe hundreds of billions of rubles for fuel.
According to state statistics reported Tuesday by Interfax, crude oil exports from January through July were 51 million tons outside the former Soviet republics, a 12 percent increase.
In July alone, exports totaled 7.5 million tons, slightly above the pace set in the first half of the year of 7.25 million tons a month.
Natural gas exports outside the former Soviet Union also were up, by 15 percent over the seven-month period from a year earlier, to 63 billion cubic meters, the report said.
To other former Soviet republics, however, shipments of gas and crude oil fell sharply over that period, the report said.
Crude oil deliveries fell 33 percent to 18 million tons.
Shipments of natural gas were down 10 percent to 46 billion cubic meters.
Oleg Davydov, minister of foreign economic relations, was cited by Itar-Tass as saying Russia will step up oil exports by as much as 20 percent this year.
He conceded that Russia's oil-transport system is operating at capacity, but added that new routes through Ukraine and the Baltic states could possibly open the way to higher shipments.
Fuel continues to make up the bulk of Russia's exports, an important source of hard currency for the struggling economy.
Many of Russia's clients in the former Soviet Union are verging on insolvency and owe hundreds of billions of rubles for fuel.
According to state statistics reported Tuesday by Interfax, crude oil exports from January through July were 51 million tons outside the former Soviet republics, a 12 percent increase.
In July alone, exports totaled 7.5 million tons, slightly above the pace set in the first half of the year of 7.25 million tons a month.
Natural gas exports outside the former Soviet Union also were up, by 15 percent over the seven-month period from a year earlier, to 63 billion cubic meters, the report said.
To other former Soviet republics, however, shipments of gas and crude oil fell sharply over that period, the report said.
Crude oil deliveries fell 33 percent to 18 million tons.
Shipments of natural gas were down 10 percent to 46 billion cubic meters.
Oleg Davydov, minister of foreign economic relations, was cited by Itar-Tass as saying Russia will step up oil exports by as much as 20 percent this year.
He conceded that Russia's oil-transport system is operating at capacity, but added that new routes through Ukraine and the Baltic states could possibly open the way to higher shipments.
|
|
Tweet |
|
This article has no comments. Be the first to leave a comment |
Discussion
Comments
To post comments you must be registered
Comments via Facebook
Most Read
1.
Soviet Crooner Khil Dead at 77
Brezhnev-era crooner Eduard Khil, a People’s Artist of Russia who rose to international acclaim in recent years as the “Trololo Man” after footage of his jolly yodeling became an Internet sensation, died early Monday in St. Petersburg.
2.
Putin Vows to Stand by Europe's Side
President Vladimir Putin on Monday offered European Union leaders help in their fight against a deepening debt crisis, on the same day that the ruble slid to new lows against the euro.
3.
Pussy Riot Case Enters Next Stage
The preliminary investigation of the Pussy Riot affair has been completed, allowing the defense to begin examining evidence against the women accused in the case.
4.
Russians Convicted as Mercenaries in Libya
A Libyan military court sentenced two Russians, 19 Ukrainians and three Belorussians to long prison terms Monday for serving as mercenaries for Moammar Gadhafi during the conflict that led to his overthrow last year.
5.
Euro 2012 Leaves Ukraine Rocked by Racism Controversy
Victor Chikelu, a Nigerian medical student, was punched and told to go back to Africa by a drunk in the Kiev subway two years ago.
6.
Lessons for Investors From TNK-BP
The highly depressed valuations on the stock market today would have you believe that Russia is a sort of a hybrid of a Las Vegas roulette wheel with an economic profile to make even Greece look attractive.
7.
Communist Party Leader Hospitalized
Communist Party head Gennady Zyuganov has been hospitalized in the Stavropol region, with some reports claiming he was getting a checkup and others that he had a heart attack.
8.
Renaissance Focusing on African Real Estate
Large scale real estate developments that target both high-end and lower-income residents will be a driver of Africa's property market and are the best fitted asset for tackling its infrastructure and title-deed issues.
9.
Peskov: BP Move Not Bad Signal for Investors
The Kremlin doesn't believe that BP's possible departure from its Russian joint venture would be a bad signal for other foreign investors.
10.
United Russia Pushes for Military Training in Schools
A group of United Russia deputies wants to reinstate Soviet-era military training in high schools to promote patriotism and fondness for the armed forces.
1.
City Mistakenly Plants Marijuana Field Instead of Lawn
After the city spread soil containing "grass" seeds around the Brateyevo metro station, a field of marijuana plants sprouted up instead of a lawn.
2.
McFaul Faces Kremlin Scorn Once Again
The Foreign Ministry assailed U.S. Ambassador Michael McFaul for comments the ministry said went "far beyond the bounds of diplomatic etiquette."
3.
Soviet Crooner Khil Dead at 77
Brezhnev-era crooner Eduard Khil, a People’s Artist of Russia who rose to international acclaim in recent years as the “Trololo Man” after footage of his jolly yodeling became an Internet sensation, died early Monday in St. Petersburg.
4.
Prominent Businessman Shot Near FSB Headquarters
A prominent business leader was shot and wounded by three masked men in the heart of Moscow on Friday — just steps away from FSB headquarters.
5.
Putin's Final Act
Russians are usually patient and slow to rebel, but once they have turned on their leader, they don't stop until he is out.
6.
U.S.-Russian 3-Year Multientry Visa Bill to Go to Duma
After months of delays, the government has finalized a much-touted visa agreement with the United States and drafted the corresponding bill.
7.
Putin's Foreign Policy Goes on the Road
In a symbolic gesture, President Vladimir Putin on Thursday arrived in Minsk to pay his first foreign visit as head of state to controversial Belarussian leader Alexander Lukashenko.
8.
Putin Denies Russian Role in Syrian Violence
Under mounting international pressure, President Putin denied that Moscow is fueling bloodshed in Syria with arms exports and that Russia unilaterally supports the Assad regime.
9.
European Debt Crisis Driving Workers East
Despite its inconveniences, Moscow has become a magnet for foreign job-seekers, as unemployment in Europe is hitting record highs amid the debt crisis.
10.
McFaul and State Department Respond to Attack
The U.S. ambassador and the U.S. State Department said they were surprised by blistering criticism from the Foreign Ministry regarding comments McFaul made to students last week.
1.
Hundreds of Arrests Set Grim Backdrop for Victory Day Celebrations
As Moscow gears up to celebrate its victory in World War II, 67 years ago Wednesday, the shadow of political conflict shrouds the capital as hundreds of arrests cloud Victory Day festivities.
2.
City Mistakenly Plants Marijuana Field Instead of Lawn
After the city spread soil containing "grass" seeds around the Brateyevo metro station, a field of marijuana plants sprouted up instead of a lawn.
3.
Russian Satellite Takes Highest-Ever Resolution Picture of Earth
A stunning 121-megapixel snapshot of the Earth was taken by a Russian weather satellite in what is thought to be the highest resolution picture of the planet ever taken from space.
4.
Bodies, No Survivors Spotted at Superjet Crash
Search and rescue helicopters and volunteers struggling through thick forest and mountainous terrain spotted bodies but no survivors on the Indonesian mountainside where a Sukhoi Superjet 100 crashed by the time darkness forced an end to the search Thursday night.
5.
Tabloid: Superjet Downed by U.S. Industrial Sabotage
A tabloid claims that Russian intelligence agencies are investigating the possibility that the U.S. military may have brought down the Sukhoi Superjet that crashed in Indonesia.
6.
Furniture Magnate Shot Dead in Mercedes in Moscow Region
A 46-year-old furniture magnate was killed with six gunshot wounds to the head and chest early Sunday as he arrived in his Mercedes at his home in the Moscow region.
7.
New Cabinet Has Familiar Cast of Characters
President Vladimir Putin on Monday announced the makeup of the new Cabinet answering to Putin and Prime Minister Dmitry Medvedev, with three-fourths of the members having been replaced.
8.
Superjet Missing in Indonesia With 50 on Board
A dark cloud was cast Wednesday on the revival of Russia’s aviation industry when a Sukhoi-built Superjet 100 with 50 people on board disappeared from the radar screens of Indonesian flight controllers.
9.
McFaul Faces Kremlin Scorn Once Again
The Foreign Ministry assailed U.S. Ambassador Michael McFaul for comments the ministry said went "far beyond the bounds of diplomatic etiquette."
10.
Foreign Firms' Security Service Raided
Police have raided a company that provides private security to major Western firms like IKEA and Procter & Gamble in what its founder, State Duma Deputy Gennady Gudkov, called punishment for his support of anti-Kremlin protests.


