BAKU, Azerbaijan, March 12
By Leman Zeynalova – Trend:
Total crude oil exports from Russia and Central Asia declined 0.2 mb/d, or almost 4 percent, to average 5.8 mb/d in January, Trend reports citing OPEC.
Y-o-y, total crude exports from the region were 1.4 mb/d, or 19 percent lower. Crude exports through the Transneft system were broadly unchanged at 3.3 mb/d, representing a minor decline of 12 tb/d, or less than 1 percent. Compared to the same month last year, exports were 0.9 mb/d, or 21 percent lower. Total shipments from the Black Sea fell 139 tb/d m-o-m, or almost 40 percent, to average 213 tb/d in January.
In contrast, total Baltic Sea exports increased 232 tb/d m-o-m, or 26 percent, to average 1.11 mb/d in January, with shipments from Primorsk up 16 percent to 672 tb/d and Ust-Luga exports rising 441 tb/d. Meanwhile, shipments via the Druzhba pipeline lost 126 tb/d m-o-m, or almost 15 percent, to average 735 tb/d in January. In contrast, Kozmino shipments edged up 21 tb/d m-o-m, or almost 3 percent, to average 636 tb/d.
Exports to China via the ESPO pipeline were unchanged m-o-m at 637 tb/d in January. In the Lukoil system, exports via the Barents Sea declined 24 tb/d to average 102 tb/d in January, while those from the Baltic Sea were broadly unchanged. On other routes, Russia’s Far East exports declined by more than 5 percent m-o-m to average 371 tb/d and were around 6 percent lower compared with the same month last year. Central Asia’s total exports averaged 204 tb/d in January, in line with the month before, but down 3 percent compared with the same month last year.
Black Sea total exports declined 228 tb/d m-o-m, or almost 17 percent, to average 1.1 mb/d in January, with Novorossiyk responsible for the bulk of the decline, although Supsa port also saw a drop. Y-o-y, Black Sea flows were 25 percent lower.
Meanwhile, exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline fell 9 percent m-o-m to 597 tb/d, representing a drop of 10 percent y-o-y. Total product exports from Russia and Central Asia declined 6 percent m-o-m to average just under 3 mb/d in January.
Losses were seen across the board, except for gasoline. Naphtha and VGO experienced the biggest losses, down 23 percent and 44 percent, respectively. Y-o-y, total product exports were just 25 tb/d, or 1 percent, lower in January, with a recovery in jet fuel offsetting declines in VGO and naphtha.
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