Lukoil exports 300,000 tonnes crude via ESPO pipeline in Q1
MOSCOW. May 29 (Interfax) - Lukoil exported 300,000 tonnes of light crud via the Eastern Siberia-Pacific Ocean (ESPO) pipeline in Q1 2014, the company said on a commentary to its financial results for the period.
Lukoil started to pump oil via the ESPO pipeline in July last year but this is the first time it has said how much.
The ESPO shipments "allowed us to preserve the premium quality of crude oil and thus increased the efficiency of export, compared to export to traditional Western markets," Lukoil said.
"During the first quarter of 2014, the volume of our crude oil export from Russia decreased by 5.1%, compared to the first quarter of 2013, and we exported 34.6% of our total domestic crude oil production (37.4% - during the first quarter of 2013). The decrease of crude oil export was a result of higher sales in Russia and increased throughput at our domestic refineries," Lukoil said.
"During the first quarter of 2014, the volume of our exported refined products from Russia increased by 6.0% compared to the first quarter of 2013. Primarily, we export from Russia diesel fuel, fuel oil and gasoil. These products accounted for approximately 88% of our exported refined products volumes," it said.