EUROPE

Exporters want private Russian pipeline

The Union of Oil Exporters - a grouping that includes the likes of BP Plc (together with its Russ...

Should this petition be accepted it will mean that the Russian government's monopoly on oil export routes will be broken.

According to the Union, "The network of Russian pipelines does not meet the needs of oil companies and could become a restraining factor in the diversification and increase in exports of oil and petroleum products."

What the Union is calling for is a "creation of conditions" that could allow for the construction of a non-state oil pipeline. However, such a change would require changes in the Russian legislature and cause state-run pipeline operator Transneft to lose its control on all oil shipments and exports.

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