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Bulgaria Reducing Russian Oil Share October

OIL

{bp}{ru} – Bulgaria is set to increase imports of crude from outside Russia in October as it looks to diversify supply. The country is the only one in the EU to receive an exemption to be allowed to continue importing seaborne Russian oil after last years December ban.

  • It is planning to fully move away from Russian volumes by October 2024 and reduce them to 80% of imports by the end of this year.
  • Bulgaria has relied almost solely on Russian barrels for most of this year – 92% Jan-Sep according to Refinitiv data.
  • In October Bulgaria will import almost 200,000 tonnes of non-Russian oil – the most so far this year.
  • Bulgaria is targeting Norway's Johan Sverdrup crude and Egypt's Western Desert grades.
Energy BulletsCommodities
Energy BulletsCommodities

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