MOSCOW: Russia’s oil producers Rosneft and Lukoil will sharply cut oil exports from the Black Sea port of Novorossiisk in July, two sources familiar with a loading plan said, as the companies resumed operations at their refineries.
Combined Novorossiisk oil loadings by Rosneft and Lukoil in July will fall by some 220,000 barrels per day (bpd) compared to last month, Reuters calculations based on market data showed.
Last Week Russian government decided to continue with unrestricted gasoline exports in July, extending the wvier for a partial ban on overseas fuel sales, as Russia’s domestic oil Plants produce enough oil produce to meet peak seasonal semand despite a spate of Ukrainian drone attacks on refineries.
Rosneft oil exports from Novorossiisk are set to fall to 0.62 million metric tons in June, while its Tuapse refinery is set to resume crude runs this month.
Lukoil’s exports from the port will fall to 0.19 million tons in July from 0.58 millions tons last months, sources said.
Lukoil restarted a key piece of equipment for oil processing, the CDU-6 crude distillation unit, at its NORSI refinery, Russia’s fourth-largest, following a drone attack in March.
Rosneft and Lukoil did not reply to Reuters requests for comments.
Novorossiisk total oil loadings in July were set at 1.8 million tons, down from 2.9 million tons in June.
Source: Energy World
