Building a world of
resilient communities.

MAIN LIST

 

Russia’s Lukoil Starts Oil Exports to China

Russian oil major Lukoil will export its first trial batch of oil to China in November-December, the company’s vice president Leonid Fedun said at a presentation of the company’s bonds on Thursday.

Fedun made the announcement at the presentation of Lukoil’s new bonds. He did not specify the details of the supplies.

Earlier in November, an official with the East Siberian Railway company, a subsidiary of Russian state company Russian Railways, said that the East Siberian Railway plans to sign an agreement on oil supplies to China with Lukoil before the end of this year. Lukoil’s first batch of oil to be exported to China may amount to 100,000 tonnes, the official added.

Gennady Fadeyev, the president of Russian Railways, said in late October that his company was ready to lower tariffs for transporting oil to China if the amount of oil supplies increases to 30 million tonnes per year. At the moment, Russian oil major Yukos is the only company supplying Russian oil to China.

There are no pipelines linking China and Russia and Yukos currently exports oil to China by rail. Under an agreement with China, in 2004 Yukos was to export about 3.8 million tonnes of oil to the China National Petroleum Corporation (CNPC) and 2.6 million tonnes to Sinopec.

In late September, Yukos stopped oil exports to CNPC, which then stood at about 400,000 tonnes of oil per month, via the Zabaikalsk railway station on the Russian-Chinese border. But Yukos continues to export oil to Sinopec via the Naushki railway station, which is situated on the Russian border with Mongolia.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Make connections via our GROUPS page.
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

Tags:  

Solar Warriors vs. the Black Snake of Tar Sands

This past week, Henry Red Cloud, a descendent of Chief Red Cloud and …

Peak Oil Notes - Apr 24

It has been an active week for the oil and gas markets as the Ukrainian …

Fracking - headlines

•Marcellus shale legacy wells showing increasing depletion rates …

UN Panel Looks to Renewables As the Key to Stabilizing Climate

In its latest report, the IPCC makes a strong case for a sharp increase in …

The EIA is seriously exaggerating shale gas production in its drilling productivity report

The EIA is the elephant in the room when it comes to energy statistics. Its …

Peak Oil Review - Apr 21

A weekly review including: Oil and the Global Economy, The Middle East & …

Those Fracking Lies

A review of Snake Oil: How Fracking’s False Promise of Plenty …