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Russia to export oil products through domestic terminals

Russia to export oil products through domestic terminals

Moscow: Russian transport minister Igor Levitin has announced that the country aims to export all its refined products through domestic terminals, reports Portworld. According to Levitin, the increased capacity at Russian ports near St Petersburg have made it cost effective to export oil products from domestic terminals rather than via Estonia.

If successful, the move will reduce the country's dependence on neighbouring Estonia - with whom political relations have been strained since the start of this year. Russia exports approximately 25m tones of refined oil products per year, a large amount of which is fuel oil destined for the Antwerp-Rotterdam-Amsterdam (ARA) area.

Levitin stated that Russia would continue shipping non-oil cargoes though neighbouring states.  [25/07/07]