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Oil loadings from Russia’s Novorossiisk revised up by 5% for Sept -sources

Tuesday, 19 September 2023 | 12:00

Oil loadings from Russia’s Black Sea port of Novorossiisk for September were revised up to 2.52 million metric tons from 2.4 million tons in the provisional plan, market sources told Reuters on Monday.

Urals, KEBCO and Siberian Light loadings from the port in September will rise by 5% from the initial plan, Reuters calculations show.

In August Russia pledged to cut oil exports by 300,000 barrels per day in September from the average level of May and June.

Russia’s pipeline monopoly Transneft does not disclose export plans for its Baltic, Black Sea and Pacific oil terminals.

Russia’s September seaborne oil exports and transit from its western ports were set to rise by 17% from August on a daily basis as domestic refineries cut runs owing to seasonal maintenance, trader data and Reuters calculations showed early in September.

The provisional loading plan provided for 6.4 million tons of export and transit flows for the Baltic Sea ports of Primorsk and Ust-Luga.
Source: Reuters (Reporting by Reuters, Editing by David Goodman)

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