MOSCOW - Russian crude oil exports soared 24 percent in the first half of 2002 compared to a year ago, despite an agreement with OPEC to hold output steady over that period.
Russian customs data released on Monday showed that Moscow, heavily reliant on energy revenues, boosted exports via major ports and pipelines to Europe and also gave oil firms free rein to increase exports via alternative routes, such as through neighbouring Ukraine and Belarus.
Industry sources and traders have said this had likely pushed up real volumes of crude exports to Europe beyond official statistics.
Russia, the world's second largest oil exporter, officially abandoned the deal with OPEC from July but told the cartel's Secretary General Alvaro Silva in talks last week that it would continue to cooperate. However Moscow made no concrete pledges.
Crude oil exports from Russia to western and central Europe rose in January-June by 7.7 percent to 72.1 million tonnes or 2.92 million barrels per day (bpd) from 66.9 million tonnes or 2.71 million bpd in the same period of 2001.
In addition, deliveries to the countries of the Commonwealth of Independent States (CIS), made up of 12 former Soviet Union republics, jumped in the first six months of 2002 to 675,000 bpd from 175,000 bpd in January-June 2001.
Total crude exports inside and outside the CIS rose 24 percent to 88.8 million tonnes or 3.60 million bpd from 71.3 million tonnes or 2.89 million bpd in January-June 2001.
Russia's exports figures have been closely monitored by oil traders since Russia agreed to curb its exports by around five percent or 150,000 bpd in January-June 2002 in tandem with OPEC to help the cartel prop up oil prices.
In addition to crude oil, Russia's total petroleum products exports also rose in January-June to 34.73 million tonnes from 32.90 million tonnes in the first half of 2001.
Fuel oil exports rose to 16.09 million tonnes from 15.82 million tonnes, while gas oil exports jumped to 13.92 million tonnes from 12.38 million tonnes.
There are at least three sets of Russian oil export figures, all of which are flawed or contain contradictions, but official customs data are widely accepted as the most reliable. /Reuters/
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