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REFINING: Russian Offline Refining Capacity to Rise 34% m/m in September

REFINING

Russian offline primary oil refining capacity is set to rise 34% m/m to 3.87m tons in September, from 2.95m tons in August according to Reuters calculations.

  • The increase due to Ukrainian drone attacks and seasonal maintenance is seen at 14.5% of Russia's total oil refining capacity.
  • Crude processing rates at Gazprom Neft’s Moscow refinery fell by 150kb/d in early September from the August average following a drone attack on Sept. 1, Bloomberg said.
  • Idle refining capacity could boost crude oil exports as loadings from the Baltic ports of Primorsk and Ust-Luga for September were revised up by 0.2m tons to 6.2m tons, Reuters said.
  • Offline primary oil refining capacity in October will fall by 37% to 2.42m tons based on the current maintenance schedule.
  • In January to September, cumulative offline capacity was up 23% y/y to 32m tons.
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