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. Last Updated: 07/27/2016

YUKOS Looks to Buy Turkmen Crude Oil

ASHGABAT, Turkmenistan - Russia's second largest oil company YUKOS has asked to buy crude oil and gas condensate from former Soviet Turkmenistan, a Turkmen energy ministry official said Wednesday.

The official told Reuters that YUKOS head Mikhail Khodorkovsky had met Saparmurat Niyazov, president of the Central Asian state, Tuesday and asked to buy the crude.

He said the crude could be delivered by tanker across the Caspian Sea and YUKOS wanted to ship it by barge up the river Volga to Samara, where it has refining capacity.

He added that YUKOS was looking into the possibility of exploring the Turkmen sector of the Caspian shelf.

Turkmenistan exported 1.2 million tonnes of crude in the first nine months of this year, or over 30,000 barrels per day. Most was exported under location swaps through Iran. The main buyers were Italy, Iran, Azerbaijan and Britain.

Turkmenistan produced six million tonnes (145,000 barrels per day) of crude and gas condensate in the first 10 months of this year.