LUKoil reports growth in oil export

The volume of oil exports by LUKoil to CIS and non-CIS countries increased by 4.9% in 2002, compared to that of 2001, and reached 34.3m tons. This data was announced at a meeting of the Board of Directors today, the LUKoil Press Service reported. Additionally, the company exported 12m tons of oil products, sold by foreign sales firms, over the reporting period.

The Press Service pointed out that new methods of oil export with the use of river transport and railways were developed and put in use in 2002. The company established uninterrupted oil transportation from a number of deposits by special arctic tankers during any season. Additionally, the implementation of the first stage of the Caspian Pipeline System project, which LUKoil participated in, was completed in 2002.

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