The Yukos Oil Company sold two million barrels of Siberian oil to ExxonMobil, the world's largest publicly traded oil producer, as Russia's second largest oil firm by production expands sales in the US market.
Supertanker Astro Lupus, which will arrive in Houston later today, is delivering Yukos's first ever direct oil tanker shipment, said Alexander Shadrin, Yukos spokesman. Yukos has almost doubled its market value this year as investors forecast higher output and increased sales abroad will boost profit.
The supertanker could lower costs, making sales to the world's largest economy more attractive, the company had said earlier.
If the bottom line is financially attractive, “we may start sending oil this way regularly,” Mikhail Khodorkovsky, Yukos Chief Executive Officer, said earlier. “The big experiment is to see the costs of transportation by a supertanker, having taken oil by small tankers.”
The choice of the city of Helsinki is not incidental as the capital of Finland had hosted US-Soviet negotiations on the limitation of nuclear stockpiles in 1969