China Urges Russia to Help Yukos to Resume Oil Shipments

[Minstrel Boy]

China Urges Russia to Help Yukos to Resume Oil Shipments

Sept 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.

...

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.
http://www.axcessnews.com/business_092104b.shtml

[jmcgowanjm]

1. Thanx for this post, Minstrel Boy

Critical to everything.

By as early as next year.

http://energybulletin.net/2188.html

Andrew McKillop: The important thing is PCOD-
Per Capita Oil demand.

US PCOD= 25bbl/capita/yr
China PCOD= 1.5bbl/cap/yr
If China's PCOD reaches 3 bbl/cap/yr it will be the
largest importer in the world. Est time for this 2014.
I may be off on this. It could be earlier. I'll find the
source if you're interested.

[jmcgowanjm]

2. Here's the McKillop article

http://www.vheadline.com/readnews.asp?id=22842

It's 1.45 PCOD now.

To attain 3rd world avg of 4.5 bcy China will become world's largest importer by 2014.

But long before this the world will have to find 2 Saudi Arabias every 2 yrs. to meet demand forecasts.