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Italy Crude Imports from Russia Fall as Libya, Iraq & Saudi Increase

OIL

Italy’s imports of crude from Russia fell in October while imports from Libya, Azerbaijan, Iraq and Saudi all increased according to the latest government data.

  • The Lukoil-owned ISAB refinery in Sicily has been struggling to secure alternative supplies to Russian crude with Italian banks wary of sanctions. The Italian government is considering nationalisation to keep the facility operational and avoid a loss of refining capacity.
  • Total imports to Italy increased slightly to 5.36m tons in October from 5.26m tons in September
    • Russia 1.06m down from 1.55m
    • Libya 910k up from 683k
    • Azerbaijan 782k up from 699k
    • Iraq 756k up from 549k
    • Saudi 538k up from 435k
    • Kazakhstan 199k up from 171k
    • Nigeria 198k up from 131k
    • Guyana 163k
    • Norway 156k up from 104k
    • Angola 134k down from 138k
    • UAE 131k
    • US 95k down from 187k tons

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