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2008 March 7   14:27

Average contract price on oil up 68% to $636.7 a tonne in Jan 2008

     The average contract price for oil supplies  to  non-CIS countries in January 2008 increased 68.1% year-on-year to  $636.7  a  tonne,  the Federal customs Services (FCS) said in a statement according to Interfax.

     Oil  exports  from Russia to non-CIS countries in January increased 1% year-on-year to 17.8 million tonnes.

     Petroleum  product  exports  increased  6.4%  year-on-year,  as did exports  of  fuel oil, up 20.1%. In contrast, gasoline exports decreased 24.7%, jet fuel - 67.2% and diesel fuels - 3.5%.

     According  to  FCS  statistics,  fuel and energy exports in January 2008 accounted  for  75.1%  of  a total exports to non-CIS countries, up from 71.2% in January 2007.

     Supplies  of  crude  oil to CIS countries in January 2008 decreased 25.8% year-on-year  while   the  average contract price grew 56.4%. Total export of petroleum products increased 11.6%, including gasoline - 20.1% and diesel fuels - 100%.

     Exports of jet fuel to CIS countries decreased 53% year-on-year, as did fuel oil, down 76.1%.

     Fuel and energy exports accounted for 45.8% of total exports to CIS countries in January 2008, down from 52.6% in the same period in 2007.

     The  Federal  Customs Service said that exports of natural gas from Russia in  January  2008  came  to 18.7 billion cubic meters. Exports of natural  gas  to non-CIS countries increased 31.7% to 17.1 billion cubic meters while  supplies  to  CIS countries decreased 44.7% to 1.6 billion

cubic meters.

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