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Russia’s Oilmen Prefer to Export
The continuing growth in prices for crude oil in October led to material increase in the oil exports from Russia, which stepped up 5.7 percent for the countries of far abroad and gained 26 percent for CIS. At the same time, domestic deliveries of crude oil lowered by 2.6 percent, prompting the country’s Federal Antimonopoly Service to investigate the reasons of decline.
The oil industry of Russia responded to October surge in prices by the increase in crude oil exports. The exports to far-abroad states stepped up by 5.7 percent past month, while the exports to CIS soared 26 percent.
Russia produced 42.011 million tons of crude oil in October. The exports via Transneft pipelines widened to 18.8 million tons, while the supplies to local refineries lowered by 2.6 percent to 18.3 million tons. It looks like Russia is doing what an ordinary producer would do in the environment of skyrocketing prices – it is selling everything that could be sold.
In the oil companies, they blame the drop in local processing of crude on the scheduled repairs at refineries. Retail prices haven’t been affected yet, but wholesale prices for the oil product, especially the diesel fuel, are going up. And the general forecast is that the prices at petrol stations will rise in November or December.
www.kommersant.com
All the Article in Russian as of Nov. 06, 2007
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