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FGE Estimates Russian Refinery Runs 330kbpd Lower YoY in 1H 2024

REFINING

FGE estimates Russian refinery runs to drop by around 330kbpd year on year 1H 2024.

  • FGE also does not expect refinery runs to recover to 2023 levels in the second half of this year.
  • “Ukrainian strikes on Russian storage infrastructure will weigh on the country’s operational flexibility and will make it more difficult to maintain high run rates,” FGE said.

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