Yukos Ready to Raise Some Cash

Simon Kukes, CEO of Russian oil major Yukos, has stated the company will increase oil exports by 17.3% from 2003 to 57.7 million tons.

According to Kukes, the company is going to sell the major part of additionally produced oil and gas condensate in 2004 on foreign markets. It is expected that YUKOS will sell 49.9 million tons of oil (365 million barrels) abroad or 25.7% more than in 2003.