YUKOS Head: Russia Can Win 15% of US Oil Market

YUKOS head Mikhail Khodorkovsky believes that Russia could win up to 15% of the US oil market. He made this statement today at the 'Russia: Developing Success' conference, which is held annually. Khodorkovsky said that 'in recent years Russia has undergone a re-evaluation as a fuel supplier.' 'Russia has been acknowledged as a reliable partner, and the current US position is that reliable suppliers receive at least 15% of the market,' added the YUKOS chairman.

Speaking about the possibility of Russia supplying oil to part of the US market, Khodorkovsky said that the country had enough resources to make this a reality. He said that, according to the latest estimates, in the next ten years Russia will be able to extract an extra 9-10 million barrels of oil each year. However, the YUKOS chairman believes that the main problem is in transporting this oil, so the key issue at the moment needs to be the construction of a transport infrastructure. Khodorkovsky believes that the most promising solution is the construction of a pipeline to Murmansk. He predicts that oil transported through the North will be cheaper than oil supplies from the Persian Gulf.

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