Russia plans to take 1.48 million metric tons of refining capacity offline in December, up by 35% from a previous estimate but still below the 2.4 million tons in November, according to Reuters calculations based on data from industry sources.

A decline in idle capacity means refineries use more crude oil to produce fuel, making fewer volumes available for export.

Technological stoppages and maintenance of some units at the Ufaneftekhim, Komsomolsk, Volgograd, Novoshakhtinsk oil refineries will contribute to the upwards revision for December.

Expected cumulative offline primary oil refining capacity in Russia reached 40.7 million tons in 2024, up 13% from 2023.
Source: Reuters (Reporting by Reuters, Editing by Louise Heavens)