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. Last Updated: 07/27/2016

Canal Crash Hits Yukos Export Route

Yukos will reassign some of its planned crude and fuel oil volumes after a crash blocked the Volga-Don canal supplying the port of Kavkaz for at least three weeks, a spokesman said.

Russia's top oil exporter ships about 100,000 barrels per day of crude down the canal for onward shipment from Kavkaz, traders say.

A dry-load barge crashed into the gates of a lock on the southern Russian canal Monday evening. Officials said the accident had left around 122 vessels stranded and the transportation minister said the canal would be closed for at least three weeks.

"The crude volumes that were planned to be shipped by water will be distributed between pipelines and railways to the ports of Kavkaz and Murmansk," a Yukos spokesman said. "As for water-borne deliveries of fuel oil, a part of the volumes will be reoriented from southern routes to the north. The remainder will be removed from barges and shipped by rail to Odessa and Kaliningrad."