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YUKOS stops exporting oil to Chinese Peoples Republic
20.09.2004 00:00

YUKOS has declared that it suspends oil export to China. The management of YUKOS accounts for this decision with the companys having no assets to pay for transport expenses.
      This decision concerns supplies to Chinese National Oil Corporation. At the same time YUKOS has undertaken to fulfill all the oil export obligations under the contract with another Chinese company, namely Sinopek.
       The decision of YUKOS has astonished some analysts as last time China was planning to cover totally oil export expenses of YUKOS.
       On Wednesday Prime Minister of China is to arrive in Moscow to negotiate about still bigger supplies.
       Earlier YUKOS planned to have exported 7,3 million barrels of oil for Chinese National Oil Corporation by the end of the year.


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