Transneft: Russian oil exports via its network down 6.5% in 2023
Reuters
Published Jan 10, 2024 11:26
MOSCOW (Reuters) - Russian state-controlled oil pipeline monopoly Transneft said on Wednesday that Russian crude exports via its pipelines were down 6.5% last year, while total oil deliveries through its network in 2023 had remained flat from 2022.
Transneft handles more than 90% of all oil produced in Russia.
It also said oil supplies via its pipelines to China in 2023 amounted to 40 million metric tons, unchanged from the previous year.
The company said that oil exports via the Black Sea port of Novorossiisk rose last year by 3.1% to 30 million tons despite weather-related disruptions as storms prevented oil loadings during 110 full days in 2023 from the outlet.
Oil exports from the Baltic Sea ports of Primorsk and Ust-Luga were up by 6.5% and 9% to 44.4 million tons and 34 million tons respectively.
Crude supplies via the Pacific port of Kozmino jumped 9.4% to 42.8%.
The deliveries include transit volumes from other countries such as Kazakhstan.
The supplies' rise of 7.2% via the ports was offset by a 60% collapse of exports through the Soviet-built Druzhba pipeline to Europe.
Russian pipeline oil supplies to Europe are excluded from an EU embargo, but the route crosses Belarus and Ukraine and has been under constant risk of disruption since Russia sent thousands of troops into Ukraine in 2022 in what Moscow calls a "special military operation".
Germany and Poland also decided to ditch Russian oil amid the severe political fallout over Ukraine. Kazakhstan has agreed to provide its oil to Germany via the route, seeking to raise it to 1.2 million tons in 2024.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.