Russia raises crude exports via key routes despite lower output



Bloomberg News 4/29/2022

(Bloomberg) — Russia’s crude oil exports in the first 28 days of April jumped more than 17%, with hikes recorded for flows via all key pipelines and ports even as the nation’s production declined.


The country exported an average of 4.66 million barrels a day over the period to its key markets via pipelines and port facilities operated by Transneft PJSC, according to Bloomberg calculations based on data from the Energy Ministry’s CDU-TEK unit. 

Deliveries via the nation’s ports jumped nearly 54%, compared with the prior month, while supplies via the Druzhba pipeline to Europe and the ESPO conduit to China grew 7.8%, the calculations show. The only direction where the flows dropped compared with the same period in March was the Druzhba pipeline leg toward Germany, according to the data. 

At the same time, Russia’s oil output fell to 38.4 million tons, or an average of 10.05 million barrels a day, according to Bloomberg calculations based on the data. That’s 8.7% below production in March and the lowest level for the nation since November 2020. 

Russia, which accounts for roughly 10% of global crude output, has faced an unprecedented wave of economic sanctions as western countries and their partners try to end the invasion of Ukraine by curbing the Kremlin’s revenues. 

The real impact of these overlapping measures has hard to gauge, with key statistics on production and overseas shipments pointing in different directions. That’s because the country’s refineries have been processing less crude as they lose overseas markets and domestic fuel demand drops, freeing up more crude for export.

Some nations, such as the U.S. and the U.K., have announced outright bans on imports of Russian crude and oil products. The European Union is considering such restrictions, even though they could hurt the regional economy. As Western customers look elsewhere, Russia has been able to find new markets, notably in Asia, by offering its crude at deep discounts.







Source link

Related articles

Redefining international commerce infrastructure: TradeOS joins Cointelegraph Accelerator

TradeOS, the belief and settlement layer for international commerce, is now a part of the Cointelegraph Accelerator. Positioned as the muse of next-gen stablecoin-based uniserval checkout, TradeOS is constructing an open, permissionless international...

25 Highlights AI Limits in Buying and selling

On the Finance Magnates Africa Summit 2025, monetary analyst Mj Givens Kgasi opened with a direct give attention to the core themes of his presentation.In a session titled “The Way forward for CFD Buying and...

Expro lands contract with Woodside for Mexico’s first ultra-deepwater growth

Expro has been awarded a significant three-year contract by Woodside Power in assist of the Trion deepwater oil and fuel growth offshore Mexico.  ...

Whitestone REIT: The Small-Cap Retail Landlord Outperforming The Giants (NYSE:WSR)

This text was written byComply withWith a grasp’s in economics and 15 years of expertise spanning each private and non-private sectors, I convey a worldwide perspective to my investing insights. Having lived and...

TC All Stage launches tomorrow in Boston, and ticket costs rise

TechCrunch All Stage formally kicks off tomorrow at 7:30 a.m. ET at SoWa Energy Station in Boston — and that’s when ticket costs leap to full charge. This isn’t simply one other founder occasion....
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com