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    RUSSIA TO BOOST ITS OIL EXPORT IN 2004

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    MOSCOW, March 2, 2004. (RIA Novosti) - Russia's Deputy Minister of Energy Sergei Fyodorov stated that Russia would increase its export of oil by several million tons in 2004.

    According to him, Russia will, in particular, boost its export of oil to the USA.

    He stated that "the USA has been seeking ways to go away from direct dependence on oil supplies from eastern countries, and I think that the Russian oil export to the USA will be growing." He went on to say that "the American companies' interest in cooperation with Russian companies has been growing with each passing year, this is perfectly clear." As Sergei Fyodorov noted, construction of the North-European gas pipeline on the Baltic Sea bed can also make for increasing the export of Russian oil.

    Mr. Fyodorov added that "the government is now analyzing different variants of the gas pipeline's construction. Everything is at the level of blueprints." In 2003 Russia exported 149,000 barrels of oil per day on average to the USA and, as a result, took 12th place in the oil supplies to the United States (it was ranked 14th in this respect in 2002).

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