Russia's Transneft Sees Lower Oil Exports in 2014

Reuters

MOSCOW, Jan 13 (Reuters) – Russia's oil pipeline monopoly Transneft expects to reduce its crude oil exports to 225 million tonnes in 2014 from 228 million tonnes in 2013, the company's CEO Nikolai Tokarev said on Monday.

Transneft expects Russian oil producers to increase crude supplies to its pipeline system by 4 million tonnes to 485 million tonnes in 2014.

Tokarev also said that Transneft expects to export an additional 15 million tonnes of oil products a year via the Black Sea port of Novorossiysk by 2020, because of new pipelines.

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