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Russian Refining Dips on Repairs: Novak

REFINING

The current decline in oil refining in Russia is due to refinery repairs, but the domestic market is receiving sufficient volume of oil products according to Deputy PM Alexander Novak.

  • "Some of our refineries have stopped for repairs, maybe for this reason there is a slight decrease in refining production. But, in general, this does not affect the supply of the domestic market, we have enough oil products," he said.
  • Mid April stats saw diesel production fall 4.4% on a weekly basis and gasoline by 3.7%.
  • Repsol’s CEO claimed earlier that Russian volumes are still heading to Europe via North Africa and Turkey which is weighing on European diesel margins despite the Feb 5 ban.
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