Lukoil crude exports through Transneft’s pipeline system rose by 31pc on the year to 511,000 b/d (12.7mn t) in January- June. The company remains Russia’s third-largest crude exporter after Rosneft and Surgutneftegaz. Lukoil exports rose following this year’s “tax manoeu- vre”, which made crude exports more attractive and domestic refining less profitable. Large-scale maintenance at its refiner- ies also contributed to the rise. The firm sells all its crude exports through trading arm Litasco.
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