Anglo-Russian oil producer TNK-BP Ltd., half-owned by BP PLC (BP), said Wednesday it plans to lift crude oil shipments by between 300,000 and 350,000 metric tons a month through the Baltic and Black Seas when supplies to its Lisichansk refinery in Ukraine are halted March 1.

TNK-BP took a decision last week to temporarily halt crude oil deliveries to the refinery, as it had become unprofitable due to new taxes.

"The crude will go through existing channels whether it is Primorsk [the Baltic Sea ] or Novorossiysk [the Black Sea ]," TNK-BP's Chief Financial Officer Jonathan Muir said during a presentation of the company's fourth quarter results.

"There is no real export constraint at the moment in terms of crude," Muir said.
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