Russia to increase exports of Urals URL-New-E crude blend from the new Baltic Sea port of Ust-Luga in May to 2 million tonnes, the port operator said.
May crude exports from Ust-Luga were previously seen at 1.5 million tonnes, up from 1 million tonnes slated for this month.
"I know, that there will be some 20 tankers in May," Maxim Shirokov, the head of Ust-Luga operating company, told reporters.
The exports increase is likely to put more downside pressure on the price of the blend, Russia's key exports item.
Ust-Luga is scheduled to handle 3.6 million tonnes of crude oil in the second quarter and Russia, the world's largest oil producer, has to divert crude from other destinations to meet the target.
Total 2012 export from the port is seen at up to 20 million tonnes.
Source: Reuters