Yukos bill being paid: Russian Railways

The head of Russian Railways, Gennady Fadeyev, has revealed a “Chinese oil company” is to cover Yuko’s rail transport bill for October. The chief of the state-owned firm would not reveal the identity of the Chinese firm.

As reported earlier by EnergyReview.net, the tax authorities’ freeze on Yuko’s assets has forced the Russian firm to threaten to cut its 100,000 bpd of crude supply to China National Petroleum Corp (CNPC).

Speaking to the Interfax news agency Fadeyev said, “After meeting with [my] Chinese counterpart on Thursday, an unnamed Chinese company will pay for Yukos’ deliveries next month.”

“In connection with certain difficulties Yukos is having paying for supplies to China, the Chinese company is prepared to pay for oil supplies in advance for October,” he added.