YUKOS Pushed up Oil Production by 18% over 9 Months of 2002

Over the past 9 months of 2002, the YUKOS oil company pushed its production up by 18% on the year to 50.4 million tonnes of crude. According to the statement the press service of the company made today, over the same time, the volume of oil refined by YUKOS increased by 8.1% on the year to 23.4 million tonnes.

Over the 9 months, YUKOS exported 26.5 million tonnes of crude, which is a 24.6% increase on the year and the amount of oil sold on domestic markets increased by 9.4% on the year, to 13,7 million tonnes. Over the same period, the export of petroleum products increased by 8.5% on the year, reaching 7,7 million tonnes.

The YUKOS oil company was founded on April 15, 1993. It includes such entities as Yuganskneftegaz, Samaraneftegaz, The Eastern Oil Company, The East-Siberian Oil-Gas Company, Angarsk Petrochemical Company and a number of oil refineries, retail companies, and research institutes. In 20011, YUKOS produced 58.07 million tonnes, refined 29 million tonnes of oil, and paid USD 300 million in dividends. The company's shares are sold the RTS stock exchange, and Moscow Stock Exchange. During the first 6 months of the year 2002, YUKOS received USD 1.220 billion in clear profits, which was a 13.5% decrease on the year.

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