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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
REFINING
Russian oil processing is on track to reach the highest since January as capacity returns from seasonal maintenance and Ukrainian attacks according to Bloomberg sources.
- Russia processed 5.41mb/d of crude on July 1-17 and if the pace is sustained would be just below the rate seen in January this year when Ukraine attacks on Russian energy infrastructure started.
- Daily refinery runs are 206kb/d above the average for most of June.
- Daily refinery runs fell by over 200kb between July 11-17, compared with the first three days of July, due to a planned halt of Gazprom’s condensate-processing plant near Surgut.
- Four week average Russian seaborne crude exports have fallen 570kb/d since a peak in April to the lowest since Jan at 3.11mb/d as of July 14. Exports are likely to remain at that level until the end of August, according to Bloomberg.
- Russia’s pledge to OPEC suggests that any increase in domestic feedstocks will be subtracted from export flows.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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