YUKOS to suspend oil supplies to Mazeikiu nafta

YUKOS has suspended two agreements on crude oil supplies to Lithuania-based Mazeikiu nafta, the beleaguered oil company announced in a released statement. The board of directors of the company made the corresponding decision. Crude oil supplies are supposed to be suspended for 3 months till December 31, 2004. Earlier YUKOS guaranteed Mazeikiu nafta to supply 4.8m tons of crude oil per year for 10 years.

YUKOS holds a 53.7-percent stake in Mazeikiu nafta. The Lithuanian government owns 40.66 percent.