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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Russia’s oil refineries scaled back operations in early September for seasonal maintenance with primary crude processing averaging 5.52mbpd on 1-6 Sept according to sources.
- That is almost down by 32kbpd from the average on 1-30 August, when throughput also fell month-on-month, Bloomberg calculations show.
- On a weekly basis, refinery throughput rose by about 175kbpd in the first six days of September compared with the average for 24-30 August. That reflects increased runs at Rosneft PJSC and Lukoil PJSC plants in the Volga region, and at Novatek PJSC’s Ust-Luga facility. Small independent producers also contributed to the weekly growth.
- Works continue across the industry, with the maintenance season set to peak between the second half of September and the first half of October.
- The monthly drop in refinery throughput comes just as the government is pushing Russian producers to increase domestic sales.
- The Russian Energy Ministry is considering proposals to limit exports of diesel and gasoline to ease the nation’s fuel shortage. The country’s energy Minister Nikolai Shulginov however said the domestic fuel shortage should ease somewhat soon when a few oil refineries will complete turnarounds.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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