Russia Lost 15% of Its Oil Exports Due to Problems in Novorossiysk — Reuters
Oil exports from Russia’s western ports in the first half of August fell by about 15% from the planned level due to disruptions at the key Black Sea port of Novorossiysk.
Shipments from the ports of Primorsk, Ust-Luga, and Novorossiysk totaled about 2.3 million barrels per day instead of the expected 2.7 million.
Novorossiysk saw the largest decline. Export volumes of Russian Urals crude and Kazakh KEBCO crude fell to approximately 400,000 barrels per day. In June and July, this figure ranged from 800,000 to 1 million barrels.
According to traders, the delay exceeds two weeks: some shipments that were supposed to have been dispatched as early as late July only set sail in the last few days.
Amid the risk of attacks on Russian cargoes, Moscow has also rerouted Kazakh oil from Ust-Luga to Novorossiysk to free up Baltic shipping capacity for its own exports.
Source: Reuters.
As a reminder, the Orsk oil refinery in the Orenburg region of Russia has completely halted operations following an attack by Ukrainian drones.
As a reminder, the Russian oil refinery “Orsknefteorgsintez” halted oil refining following an attack by Ukrainian drones on August 11.
Video: An oil refinery caught fire in Orsk following the attack.
Earlier, the General Staff confirmed a strike on the TANECO oil refinery in Tatarstan.
