Russia to substantially boost key diesel exports – Bloomberg

The reported rise comes amid growth in processing rates by the country’s refineries

Russian producers of petrochemicals are planning to ramp up international sales of diesel from the country’s major western ports by nearly one-fifth in January as refinery runs grow, Bloomberg reported on Friday, citing industry data.

Loadings of diesel from the country’s facilities on the Black and Baltic Seas are set to see growth to 3.39 million tons next month, which amounts to around 817,000 barrels per day and marks an increase of 18% compared to the first 28 days of December, the outlet said, citing energy analytics firm Kpler.

The potential rise is attributed to increased processing rates by local refineries. Crude refining averaged around 5.57 million barrels per day as of December 20, marking a surge of nearly 60,000 barrels per day versus November, when a planned maintenance season concluded.

Earlier this year, the Russian government placed temporary restrictions on exports of commercial gasoline and diesel fuel to stabilize the domestic market after prices soared to record highs. In October, the ban on foreign sales of diesel exports was partially lifted, while the restrictions on gasoline shipments remained in place until late November.

READ MORE: Russian fuel exports soaring 

While the Russian authorities relaxed restrictions related to exports of summer-grade diesel, sales of winter-grade diesel to foreign markets are allowed only if it is shipped to ports by pipeline. Moreover, refiners need to keep at least 50% of their output at home.

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