Russia increased diesel exports by 3% in November despite sanctions and infrastructure damage

Russian diesel and gasoil exports rose 3% in November from October to about 2.37 million metric tons despite recent US sanctions and infrastructure damage caused by drone strikes, data from market sources and LSEG showed.

Exports of ultra-low sulfur diesel through Primorsk, Russia’s largest diesel delivery outlet, jumped 39.3% month-on-month to 1.221 million tonnes as major producers completed seasonal and unplanned repairs, market sources added.

In contrast, exports from Russia’s southern ports fell sharply amid drone attacks on regional infrastructure and refineries.

Russia’s Black Sea port of Tuapse halted fuel exports on November 2, following a Ukrainian drone attack on its infrastructure, forcing its local refinery to stop processing crude oil.

In Novorossiysk, another Black Sea port, diesel exports fell by a third to 0.64 million tonnes due to unplanned maintenance at Lukoil’s refinery in Volgograd and a temporary stop in loading following missile and drone attacks.

Despite US sanctions imposed on Russia’s largest oil companies in October, Lukoil LKOH and Rosneft ROSN, overall diesel volumes were largely unaffected in November.

Türkiye remained the biggest buyer of Russian diesel and gas in November, with imports rising 10% month-on-month to 1.06 million tonnes, LSEG data showed.

Shipments to Brazil also increased to 190,000 tonnes, up from 74,000 tonnes in October.

Meanwhile, shipping data showed an increase in ship-to-ship shipments near Limassol, Malta, and Port Said, Egypt, totaling nearly 0.5 million tons. The final destination of these cargoes remains unclear.

Some tankers carrying around 270,000 tonnes of diesel from Russian ports also have not declared their discharge ports, according to LSEG data.
Source: Reuters