US-Russia oil supply ties deepen with cargo to Texas

08/05/2002
The first direct oil shipment from Russia to the US was lightered last month from a supertanker to ExxonMobil Corp. refineries in Baytown and Beaumont, Tex., in a pilot program by OAO Yukos aimed at developing new markets for its rapidly increasing oil production.The landmark development reflects burgeoning efforts between the US and Russia to deepen ties on oil supply-an initiative underscored recently by a new cooperation agreement signed by the presidents of both countries.Yukos shippingYukos officials said they plan to ship "five or six" more spot market cargoes of oil to the US, "primarily to the Houston area," this year as they evaluate the financial feasibility of direct sales to U...
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