Russia's oil exports from Primorsk seen down 8pc in 2014

MOSCOW: Russian Baltic Sea port of Primorsk plans to cut crude oil exports by 8 percent to 50 million tonnes (1 million barrels per day) this year, Igor Katsal, an official at the state-owned oil pipeline monopoly Transneft, said on Thursday.

Last year, Transneft's oil exports from the Baltic Sea and the Black Sea ports, mostly Europe-bound, declined 8 percent on the back of increased supplies to Asia.

Transneft would also cut crude oil shipments to Primorsk as it is boosting exports of diesel via one of the pipelines initially designed for crude oil flows.