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LUKOIL, Germany Agreed on Crude Shipments
Russia’s LUKOIL and Germany have agreed on the schedule for crude shipments; the oil giant will export to Germany 600,000 tons in September, Interfax reported.
LUKOIL will ship to Germany roughly 600,000 tons in September and the amount is unlikely to change later on, a source close to negotiations said on condition of anonymity, pointing out the deliveries will be effected in strict conformity with requirements of Germany.
LUKOIL cut down deliveries by a third in summer. This decline is blamed on some business reasons, including that the efficiency of this direction became less advantageous after Belarus hiked transit rates by over 30 percent early in 2007.
LUKOIL supplied to Germany 2.4 million tons in January through May, according to Russia’s Federal Customs Service; May supplies stood at 467,000 tons, while the August amount is forecasted to match the level of January to May.
The drop in deliveries prompted German Schwedt refinery to look for alternative suppliers.
www.kommersant.com
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