Russia’s Feb diesel exports to Turkey hit record high -traders, Refinitiv data

Russia’s diesel and gasoil shipments to Turkey hit a record high in February as traders rerouted cargoes after a European Union ban on Russian oil products, according to traders and Refinitiv data.

A full EU embargo on Russian oil products went into effect on Feb. 5, sending Russian diesel cargoes to Africa and Asia instead of Europe and boosting ship-to-ship (STS) loadings.

February diesel and gasoil exports to Turkey could reach a record high of 1 million tonnes, according to Refinitiv shipping data and Reuters calculations.

Turkey used to receive diesel from the Russian Black Sea ports of Novorossiisk, Tuapse and Taman which were doubled last month with volumes from the Baltic ports of Primorsk, Ust-Luga and Vysotsk.

The final destinations of some cargoes remain unclear.

“It looks like Turkey could increase its own diesel exports after a big Russian inflow,” one trader said.
Source: Reuters (Reporting by Reuters; editing by Jason Neely)