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Siberian oil supplies to China grow 23% in Jan.-Jul. y-o-y

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Russia shipped 23% more oil to China via the Trans-Siberian Railroad over the first seven months of 2006 than in the same period last year, Russian rail officials said Wednesday.
IRKUTSK, August 9 (RIA Novosti) - Russia shipped 23% more oil to China via the Trans-Siberian Railroad over the first seven months of 2006 than in the same period last year, Russian rail officials said Wednesday.

In January-July 2006, the amount of Russian crude sent to China through the border station of Zabaikalsk had increased 50% year-on-year to 30.87 million barrels.

Work is currently under way to improve infrastructure on an alternative Trans-Siberian track, via Naushki. Some 8.08 mln bbl of China-bound crude passed along the route in the first seven months of this year.

Russian oil shipments to China are expected to reach a total of 88.2 mln bbl in 2006, up from last year's 55.86 mln bbl.

China so far receives Russian oil by rail only. The energy-hungry economy will be able to import more crude from Russia when state oil pipeline monopoly Transneft completes the Siberia-Pacific pipeline project. The pipeline is slated to pump up to 1.6 mln bbl/d of crude from Siberia to Russia's Far East, which will then be sent on to China and the Asia-Pacific region.

Deputy Prime Minister Alexander Zhukov said during a visit to China last November that Russia would seek to almost triple its crude deliveries from 2004 to its rapidly developing neighbor to reach 301,200 bbl/d in 2006.

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