Russia’s seaborne diesel and gasoil exports fell by 6% to about 1.43 million metric tons in the first 15 days of July from the same period in June as refinery maintenance and strong domestic demand affected supplies, according to LSEG shipping data and market sources.

Russia’s offline primary oil refining capacity has been revised up by 20% in July to 3.9 million metric tons, including maintenance on several major and mid-size refineries, according to Reuters calculations based on data from industry sources.

A rise in idle capacity means that refineries utilise less feedstock to produce fuel.

Diesel loadings via the Russian Baltic port of Primorsk, the country’s biggest outlet for exports of ULSD, reached 470,000 tons in the first 15 days of July, down 28% from the same period in June.

So far in July, Turkey remains the top destination for diesel and gasoil exports from Russian ports, taking about 44% of total supplies, or nearly 640,000 metric tons. That was up 52% from June 1-15 thanks to strong demand, LSEG shipping data shows.

Diesel loadings from Russia to Brazil totalled only 110,000 metric tons in the first 15 days of July, down 56% month on month.

About 180,000 tons of diesel and gasoil from Russian ports are waiting for discharge or orders for further destinations on ship-to-ship transfers near the Cypriot port of Limassol, LSEG data shows.

Russian diesel and gasoil exports could rise in the second half of the month as some refineries complete maintenance, market sources said.

All the shipping data above is based on cargo departure dates.
Source: Reuters