• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Does Toyota Know Something That We Don’t?
  • 6 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 3 days World could get rid of Putin and Russia but nobody is bold enough
  • 2 days America should go after China but it should be done in a wise way.
  • 6 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 5 days China is using Chinese Names of Cities on their Border with Russia.
  • 6 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 5 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 10 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
  • 6 days Putin and Xi Bet on the Global South
  • 6 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 7 days United States LNG Exports Reach Third Place
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
Canada’s Oil Majors Are Sitting Out The Energy M&A Wave

Canada’s Oil Majors Are Sitting Out The Energy M&A Wave

Experts are predicting that it’s…

Trump Vows to Block U.S. Steel Acquisition

Trump Vows to Block U.S. Steel Acquisition

Steel prices decline as Nippon's…

Russian Fuel Exports Bounced Back in November

Russia saw its fuel exports tick higher in November, with the daily average rising to 2.2 million barrels, according to data from Vortexa, cited by Bloomberg.

The rebound followed the end of diesel export bans and the end of maintenance season at refineries. Stormy weather in the Black Sea, however, affected outbound fuel shipments towards the end of the month and in early December.

Per the Vortexa data, diesel and gasoil exports rose by 12% from October to November, with the bulk of shipments going to Africa and South America. The bulk of the latter portion went into Brazil.

Gasoline and blending component exports rose by 25% to 75,000 barrels daily last month but jet fuel exports dropped to just 8,000 barrels daily. Naphtha shipments abroad also declined but more modestly, by some 3% to 362,000 barrels daily.

Earlier this month, Bloomberg cited industry data suggesting Russian diesel exports were set for a substantial increase this month, to the tune of some 28%. Some of the increase is a result of delayed loadings because of the Black Sea storms.

According to the data compiled by Bloomberg, the shipments of Russian diesel from the Black and Baltic Sea ports in December would be the highest export volumes since July.

The premium of diesel to crude oil has increased in recent weeks, also incentivizing exports of diesel.

In late summer, Russia announced a temporary ban on diesel and gasoline shipments abroad in order to boost supply on the domestic market and lower prices.

Meanwhile, Russia’s central bank reported that total revenues for the country’s largest oil and gas exporters plunged by 41% between January and September compared to the same period last year, due to lower commodity prices and lower exports.

The redirection of exports and the move away from the U.S. dollar in energy trade settlements also contributed to the lower revenues.

ADVERTISEMENT

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News