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Russia Data: Jan-Dec oil product exports up 1.1% at 150.052 mil mt

Russian exports of refined oil products over January-December rose 1.1% year on year to 150.052 million mt, customs data showed.

In December alone, exports dropped 1.5% month on month to 11.604 million mt as the authorities asked companies to increase sales on the domestic market.

Export flows were mixed last year, with an initial uptick in volumes followed by drops due to rising domestic prices and authorities’ concerns about the impact of exports on domestic supply.

Russia exports diesel, jet and fuel oil to international markets, but its gasoline exports primarily head to nearby countries.

Jet exports rose 17.5% in January-December, the customs data showed, although no figure for volumes was provided.

Gasoline exports in January-December were lower, down by 3% year on year. They had slowed partly as Kazakhstan introduced a ban on imports of Russian gasoline in May and then again in late August.

Exports were ramped up in February and March, but then in April fell back 35% month on month and by a further 16% in May amid refinery maintenance and repeated warnings from the Federal Anti-monopoly Service that domestic prices were surging due to tighter supply.

In June gasoline exports fell 4.7% on the month, also affected by the Kazakhstan ban, while in July they plunged 22%. In August, they rose 8.9%, but in September were down again, falling 11.8%. In October, gasoline exports rose 51.5% on the month on strong netbacks. In November however, gasoline exports were 17% down on the month as the government asked companies to secure good domestic availability in order to dampen price rises. In December, exports were up 21.8% on the month, following the big drop in November.

Diesel exports in the January-December period rose 7.6% year on year, but were 16.1% down month on month as more product was redirected to the domestic market.
Source: Platts

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