Russia Increases Oil Exports to China

Russia's oil exports to China increased 22.2 percent year-on-year to 2.26 million tons in the first quarter this year, statistics released Thursday by Eastern Siberia Railway showed.

According to the statistics, Russia's oil exports to China via railways between Zabaykalsk and Manzhouli registered a year-on-year jump of 53.5 percent, while those via Naushiki, a Russian port bordering Mongolia, suffered a 25 percent drop.

Russia's oil is being exported to China via Zabaykalsk and Naushiki by the country's state oil company Rosneft, which has signed a long-term oil supply contract with China, and by Yukos, the stricken oil giant which has been cutting oil supplies in recent years.

Russia is projected to export more than 10 million tons of oil to China via railways in 2006, a big leap from 7.6 million tons last year.

Russia extracted 116.5 million tons of oil and condensate oil in the first quarter of the year, up 2 percent from the previous year.

Meanwhile, Russia's oil exports to countries outside the Commonwealth of Independent States (CIS) rose 3.5 percent to 50.62 million tons, but those to CIS countries dipped 2.8 percent to 9.53 million tons.