China Urges Russia to Help Yukos to Resume Oil ShipmentsSept 21, 2004 (AXcess News) Beijing - Beijing is pushing the Russian government to intervene to get Russia's top oil exporter to continue all its shipments to China. The Russian company Yukos says it will stop crude oil deliveries next week because it cannot afford the shipping costs.
News that the Russian oil exporter has canceled the delivery of a million tons of oil triggered deep concern in China, which is trying to meet skyrocketing oil demand.
Yukos had a contract to deliver the oil by the end of this year to China National Petroleum Corporation. Yukos officials say it will fulfill another contract to send more than 750,000 tons to another Chinese company, Sinopec.
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China's government is struggling to meet the country's surging energy demand. The government on Tuesday said crude oil imports over the past 12 months jumped by 37 percent.
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