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Russia Seaborne Diesel Exports Up 5% in July

DIESEL

Russian seaborne diesel and gasoil exports grew 5% month-on-month to 3.8m mt in July, according to Reuters and Refinitiv Eikon data.

  • The slowdown in seasonal refinery maintenance was one of the reasons for the boosted exports, with July idle primary oil refining capacity around 2.458m mt, down 37% on June levels.
  • Turkey remains the top destination for Russian diesel, taking 1.3m mt of Russian diesel, 34% of the total.
  • Loadings to Brazil from Russian ports are expected to be at a record high of around 700kt, while a further 660 kt of diesel exports is headed to Africa.
  • There remains 270 kt of diesel destined for ship-to-ship transfers in Kalamata, Greece, according to Refinitiv. The destinations for these cargoes are unconfirmed.
  • Seaborne exports of Russian oil products has been subject to an EU embargo since Feb. 5.
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