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Russia Boosting Crude Flows from Kozmino

OIL

Russia is bolstering oil exports from its major eastern port of Kozmino by about a fifth to meet rising Asian demand according to Reuters sources. The move is also believed to be a measure to counter EU sanctions hampering crude exports from the Baltic and Black Sea.

  • Russia is increasing pipeline flows east across the country to boost volumes available for export towards Asia given the difficulty shipping them from ports on the west of the country.
  • The sources expect flows on the ESPO pipeline to boost by 70,000 bpd.
  • Moscow also plans to send an extra 80,000 bpd of so-called ESPO Blend crude to Kozmino via rail from Mege.
  • The additional supplies will allow Kozmino to increase overall loadings to around 900,000 bpd in the months ahead, from an average of around 750,000 bpd so far this year.
  • ESPO oil exports via Kozmino are planned to reach all-time high of around 880,000 bpd in July.
Energy BulletsCommodities
Energy BulletsCommodities

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