Due to financial difficulties, Russian company suspended about 100,000 barrels a day of exports to China National Petroleum Corp. Yukos, Russia's largest oil producer, has had trouble paying its bills, as bailiffs have frozen and confiscated billions from its back accounts to cover a multibillion-dollar back tax debt.
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Yukos Renewed Oil Export To China
Russian oil giant Yukos renewed Wednesday its crude oil exports to China
Russian oil giant Yukos renewed Wednesday its crude oil exports to China after they were suspended at the end of September, according to Russian Railways company.
"Yukos has confirmed that it's able to pay for shipment, and the company will pay on a weekly basis," a Russian Railways spokeswoman said.
Due to financial difficulties, Russian company suspended about 100,000 barrels a day of exports to China National Petroleum Corp. Yukos, Russia's largest oil producer, has had trouble paying its bills, as bailiffs have frozen and confiscated billions from its back accounts to cover a multibillion-dollar back tax debt.
Although shipments to CNPC were stopped, Yukos continued delivering about 60,000 b/d to China Petroleum & Chemical Corp. or Sinopec.
Due to financial difficulties, Russian company suspended about 100,000 barrels a day of exports to China National Petroleum Corp. Yukos, Russia's largest oil producer, has had trouble paying its bills, as bailiffs have frozen and confiscated billions from its back accounts to cover a multibillion-dollar back tax debt.
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