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Russian Oil Product Market "Stable" Amongst Refinery Attacks: Energy Minister

OIL PRODUCTS

The Russian oil products market is balanced according to Energy Minister Nikolai Shulginov.

  • "We have unscheduled repairs of course, at the Nizhny Novgorod refinery, NORSI, and in Volgograd. However, the timing is clear to us, and it will take several months. The Ilsky plant has already completed repairs. The Tuapse plant operates more for export, so we are not very worried about the domestic market," Shulginov said.
  • "Exports of class 5 gasoline have dropped 32%, so the market has balanced," Shulginov said when asked about lower production levels.
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