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. Last Updated: 07/27/2016

Mazeikiu Raises Forecast for 2005

VILNIUS, Lithuania -- Lithuanian oil refiner Mazeikiu Nafta sees greater-than-expected output this year, but a further slump in exports via its offshore terminal, the company said Monday.

A company spokesman said the plant expects to refine 9.5 million tons of crude in 2005 -- raising an earlier forecast by 0.5 million tons -- to a 9.2 percent year-on-year increase.

Mazeikiu produced 8.66 million tons of crude products in 2004.

The company added, however, that exports through its Butinge offshore facility would fall 30.6 percent on the year to about 5 million tons, compared with 7.24 million tons in 2004 and 10.71 million tons in 2003.

Mazeikiu Nafta is 53.7 percent owned by Yukos, with 40.66 percent belonging to the Lithuanian state.

The Baltics' only refinery is being circled for possible acquisition by LUKoil, whose management has expressed an interest in it, in the wake of multibillion-dollar tax demands on Yukos.