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Russia Increasing Pacific Crude Exports on Sakhalin-1 Output

OIL

Russia is raising Pacific crude exports as Sakhalin-1 increases output towards historic production volumes according to Energy Intelligence. Russian crude exports from the Far East have risen beyond 1mbpd.

  • Russia shipped more than 200kbpd of Sokol blend crude oil to Asia in March from the Sakhalin-1 project. Most of the barrels were directed to the storage hub of Yeosu in South Korea for potential re export to China. Ten Sovcomflot vessels left the terminal this month with nine to Yeosu and one direct to China.
  • The biggest Pacific export terminal of Kozmino exports 75% of the 800-850kbpd of ESPO crude to China and the rest to India.
  • Pacific crude grades are potentially trading above the 60$/bbl price cap with just a slight discount to dated Brent prices and are therefore transported on the Russian "shadow fleet" tankers.
Energy BulletsCommodities
Energy BulletsCommodities

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