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Novorossiisk Crude Exports Expected to Slip 220kbd m/m in July

OIL

Russia’s Rosneft and Lukoil will make sharp cuts to crude exports out of Novorossiisk in July as refinery operations ramp up according to Reuters sources.

  • Novorossiisk total oil loadings in July were set at 1.8 million tons, down from 2.9 million tons in June.
  • Combined loadings by the companies will slip 220,000 bpd vs June.
  • Rosneft oil exports from Novorossiisk are set to fall to 0.62 million metric tons in July from 1.06 million tons in June with Tuapse runs higher.
  • Lukoil's exports from the port will fall to 0.19 million tons in July from 0.58 million tons last month with its NORSI refinery recovery.
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