Russia’s seaborne oil product exports were broadly unchanged in October from September at 7.804 million metric tons as several refineries completed seasonal and unplanned maintenance, data from industry sources and Reuters calculations showed.
While the overall volumes were broadly steady, various ports saw significant changes to their flows due to a number of factors, including drone attacks and the restart of refineries.
Russian Baltic ports — Primorsk, Vysotsk, St. Petersburg and Ust-Luga — saw a 10.6% month-on-month decline to 4.026 million tons, the data from industry sources showed. The drop was driven by reduced loadings from Ust-Luga, down 9%, after Kirishi refinery underwent an unplanned overhaul following a drone strike, tightening supply in northwest Russia.
Conversely, supplies from the southern routes surged.
Oil product exports via the Black Sea and Azov Sea ports jumped 17.2% to 3.053 million tons, the data and Reuters calculations showed. This included a 41% spike from Novorossiisk as several regional refineries had completed unplanned turnarounds after a drone attack.
Oil product exports from the Arctic ports of Murmansk and Arkhangelsk rose 5.3% in October on a monthly basis to 32,900 tons.
Fuel export loadings at Russia’s Far East ports were slightly up last month – by 1.3% from September – to 692,400 tons, according to the data from industry sources.
On October 22, U.S. President Donald Trump imposed new sanctions on Russia, targeting two major oil companies – Lukoil and Rosneft.
The new sanctions could dampen Russian oil product exports in November, traders said. Source: Reuters
