YUKOS to increase railroad oil supplies

03.09.2003 11:21

YUKOS will have to increase railroad oil supplies to fill an oil export terminal in Butinge, Lithuania, as its capacity will be raised by 75 percent to 14m tons of oil a year, according to analysts with the United Financial Group (UFG). The terminal is owned by Mazeikiu Nafta (MN) where YUKOS has a 53.7-percent stake.

Since the Russian state-run oil transportation company Transneft does not hurry to enhance capacities of Russian oil pipelines, the increase in the capacity of the Butinge terminal will have a positive effect if oil prices remain high, the analysts say.

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Author`s name Editorial Team

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