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Oil exports via Barents Sea in LUKOIL system plunge

Oil&Gas Materials 15 January 2021 12:00
Oil exports via Barents Sea in LUKOIL system plunge

BAKU, Azerbaijan, Jan.15

By Leman Zeynalova – Trend:

In the Lukoil system, exports via the Barents Sea plunged 75 percent m-o-m to 26 tb/d in November, while those from the Baltic Sea were unchanged, Trend reports citing OPEC.

“Total crude oil exports from Russia and Central Asia declined by 0.1 mb/d, or close to 11 percent, to average 5.9 mb/d in November. Y-o-y, total crude exports from the region were 0.9 mb/d, or 13 percent, lower, reflecting ongoing production adjustments carried out since June. Crude exports through the Transneft system declined by 0.2 mb/d, or 5 percent, averaging 3.4 mb/d. Compared with the same month last year, exports were at 0.6 mb/d, or 14 percent,” the cartel said in its latest report.

Total shipments from the Black Sea declined by 13 tb/d m-o-m, or around 3.2 percent, to average 405 tb/d in November, said OPEC.

“Total Baltic Sea exports also decreased, falling 115 tb/d, or 13 percent, m-o-m to average 766 tb/d in November, with shipments from Primorsk down 5 percent to 551 tb/d and Ust-Luga exports 86 tb/d lower at 215 tb/d. Meanwhile, shipments via the Druzhba pipeline fell 4 percent m-o-m to average 909 tb/d in November. Kozmino shipments declined marginally m-o-m to average 658 tb/d.”

Exports to China via the ESPO pipeline edged down 1 percent m-o-m to average 630 tb/d in November, said OPEC.

“On other routes, Russia’s Far East exports rose almost 11% m-o-m to average 387 tb/d, which represented an increase of 9 percent compared with November of last year. Central Asia’s total exports averaged 210 tb/d in November, up 3 percent from the month before and an increase of 8 percent y-o-y.”

“Black Sea total exports edged up 3 percent m-o-m to average 1.3 mb/d in November, with both the Novorossiysk and Supsa port terminals contributing to the gains. Y-o-y, Black Sea flows were 13 percent lower. Meanwhile, exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline rose 6% m-o-m to 539 tb/d, representing a drop of 12 percent y-o-y.

Total product exports from Russia and Central Asia rose 11 percent m-o-m to average 2.9 mb/d in November. Gains in naphtha, jet and gasoil were mitigated by declines in gasoline, fuel oil, and vacuum gas oil (VGO). Y-o-y, total product exports were 451 tb/d, or 13 percent, lower m-o-m in November, with declines across all major products, except jet fuel.”

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