“Exports of petroleum products from Russia reached an 11-month high in January, despite new US sanctions against the country’s energy sector.”, — write: epravda.com.ua
Exports of petroleum products from Russia reached an 11-month high in January, despite new US sanctions against the country’s energy sector. Bloomberg writes about it. In the first 10 days of the month, seaborne supplies totaled 2.5 million barrels per day, 12% higher than the December average and the highest since February 2023. The new US sanctions, announced last Friday, focus mainly on restrictions on tankers carrying Russian oil. However, as of now, they have not significantly affected the supply of oil products. Only 4% of exports made in January were carried by sanctioned vessels, and their routes remained unchanged.Advertisement: During the first days of January, there was a significant increase in exports of major petroleum products: Diesel and gas oil: up 17%, to 1.08 million barrels per day, which is a record since February 2023. Deliveries from the Baltic ports increased especially noticeably (by more than 50%). Fuel oil: growth by 19%, up to 792,000 barrels per day, with the main destination being Africa. Naphtha: exports increased by 9% to 489,000 barrels per day, which is the highest value since March 2023. Gasoline and components for mixing: growth by 15%, up to 38 thousand. barrels per day. Vacuum gas oil and other raw products: decrease in exports by almost 30%, to 70,000 barrels per day. Aviation fuel: a 40% drop to 34,000 barrels per day. Experts note that the volume of sea deliveries remains one of the key indicators of Russian production, given the lack of official data on production. However, oil export volumes did not change significantly against the background of new sanctions. In addition, according to the estimates of the International Energy Agency (IEA), Moscow’s income from the export of petroleum products in December exceeded the losses from the decrease in oil sales, thanks in particular to the high prices of gas oil. the largest oil companies of the Russian Federation “Gazprom Neft” and “Surgutneftegaz”, as well as ship insurance providers “Ingosstrakh” and “Alphastrahovanie”. According to the Financial Times, the measures include blacklisting 183 “shadow fleet” vessels involved in the export of energy resources from Russia.