Many Russian Companies Fail to Meet Oil Export Quotas in Second Quarter of 2002

On Tuesday, Russian Deputy Prime Minister Viktor Khristenko held a regular meeting of the government commission on access to main oil and petrochemical pipelines. According to the government information department, Khristenko stated that in the third quarter of this year the volume of exports by Russian oil companies will be adjusted by 700 thousand tonnes. This is due to the fact that in the second quarter many companies failed to meet export quotas. The shortfall was over 2 million tonnes of oil. The deputy prime minister specified that small companies will face a restriction of 250 thousand tonnes, and the remaining 450 thousand tonnes will fall on large companies.

According to Khristenko, exports beyond the former Soviet Union will continue according to plan in the third quarter. However, the shortfall in deliveries to former Soviet republics, mainly to Belarus and Ukraine, has reached 500 thousand tonnes. The deputy prime minister said this was due to a new rule that came into force on July 1, which ensures equal opportunities for all companies to export oil both to post-Soviet republics and further abroad. The commission decided to analyse the situation and find a solution to it by August 15.

The government commission also decided to carry out an investigation of the domestic market for fuel oil by August 15, in order to fully meet demand for it in the coming autumn-winter period.

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Author`s name: Editorial Team