Russia’s November seaborne diesel exports rise as production increases, LSEG data shows

MOSCOW: Russia’s seaborne diesel and gasoil exports rose in November on increased fuel production following a reduction in seasonal and unplanned refinery maintenance, LSEG and market sources data show.

Offline primary oil refining capacity in November stood at 2.4 million tons from 4.6 million tons in October, Reuters calculations, based on data from industry sources, showed.

A decline in idle capacity means refineries consume more feedstock to produce oil products.

In total, diesel and gasoil exports from Russian ports rose last month to around 2.83 million metric tons, up 11% from October, based on LSEG shipping data.

Russia’s November seaborne fuel supplies to Turkiye rose by 9.4% from the previous month to 1.34 million tons, the data showed. Diesel exports to Brazil increased by 11% last month from October to 422,000 tons, based on the shipping data.

Turkiye and Brazil remain the main importers of Russian diesel since the European Union’s full embargo on fuel imports from Russia went into effect in February 2023.

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Diesel and gasoil exports to African countries in November stood roughly at October levels of 550,000 tons.

Ghana, Tunisia and Egypt were among the top importers, shipping data showed.

Tankers carrying around 270,000 tons of Russian diesel are bound for ship-to-ship transfers near the Italian port of Augusta and the Greek islands.

Those cargoes are underway, and their final destinations are as yet unknown.