Voice of America: Putin's Asian Oil Drive Brings Pain to European Refiners

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

Putin's Asian Oil Drive Brings Pain to European Refiners Jul 10th 2013, 22:32, by webdesk@voanews.com (Reuters) European refineries are seeing their bills soar by billions of dollars a year as Russia shifts oil exports to Asia, driving up the values of Urals, one of their preferred crudes.   Huge volumes have switched away from saturated European markets.   From virtually zero five years ago, Russia's oil exports to China and the Pacific coast have risen to 750,000 barrels per day or 17 percent of its total, and they are set to double in the next five years.   "With the ... Media files: ED1876F2-1261-466A-8810-FE75B1208303_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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