Tuesday, March 31, 2020

Russia to Cut Oil Exports Outside FSU by 380,000 T in Q1

Posted by December 20, 2016

Russia will cut oil exports to foreign markets outside the former Soviet Union (FSU) by 380,000 tonnes in the first quarter of 2017 from the fourth quarter of 2016, oil pipeline monopoly Transneft said on Tuesday.

However, overall supply, which includes non-Russian oil transit from Azerbaijan and Kazakhstan as well as deliveries to Belarus, will increase by 200,000 barrels per day, as reported last week.

Oil exports to countries outside the FSU will total 50.98 million tonnes in January-March, down from 51.36 million tonnes planned for the fourth quarter, Transneft said.

It said exports to neighbouring Belarus, a former Soviet republic, would rise to 4.5 million tonnes in the first quarter from 3 million tonnes in the previous three months.

Both Transneft and the Energy Ministry said the export schedule reflected planned allocations though actual volumes exported might differ.
(Reporting by Vladimir Soldatkin)

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