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Russia’s Domestic Fuel Shortage To Ease Soon Post Maintenance: Shulginov

OIL PRODUCTS

Russia's domestic fuel shortage should ease somewhat soon after a few oil refineries will complete annual maintenance, Energy Ministry Nikolai Shulginov said.

  • "We're expecting repairs to end at refineries every day now. We hope that in the coming days we will increase production volumes”, Shulginov said.
  • Deputy Prime Minister Alexander Novak has said that the government is working on a number of measures that will stabilize the situation on the Russian fuel market, Russian agencies reported.
  • The Russian Energy Ministry has reportedly recommended to limit exports of Euro-5 grade diesel to just over 1.5mn tonnes across September. Euro 5 grade gasoline is also to be restricted to 103,000 tonnes, according to a letter seen by Bloomberg earlier last week.
  • Russian diesel exports from key western ports are expected to fall by 25% this month amid seasonal refinery maintenance and government efforts to maintain domestic supplies according to Bloomberg. September diesel loadings from the ports in the Black and Baltic Seas are set at 1.874mn tonnes, down from 2.496mn tonnes in August.
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