Russian oil firms plan port for exports to USA

Russia's second largest oil firm YUKOS said on Wednesday it might join topoil firm LUKOIL in building a major export terminal in Murmansk on theBarents Sea, aimed at boosting supplies to the United States. The head ofYUKOS, which made Russia's first direct shipment of crude to the UnitedStates in June, said LUKoil's plan could increase supplies across theAtlantic and help ease the crowded Bosphorus straits, currently handlingthe bulk of Russia's crude exports, shipped from the Black Sea.Russia currently exports up to three million barrels per day of crude oilto world markets. Its oil output is booming for the fourth consecutive yearand Moscow needs to build new export routes as its own domestic consumptionis barely increasing.Russian oil firms, which traditionally ship their crude to Europe, havesaid they are ready to supply more crude to the United States but need moredeep water ports and new logistics to bypass the crowded Bosphorus and theDanish strait in the north, the Russia Journal reported..

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&to=http://www.lukoil.com' target=_blank>LUKoil

&to=http://www.yukos.com/main.asp' target=_blank>YUKOS