EUROPE'S ban on seaborne Russian Oil imports from December 5 has prompted Russia to divert its crude flows to Asia and failed to curb Russian supplies, reports Reuters.
Supplies of oil from Russia and Kazakhstan from the Baltic Sea ports of Ust-Luga and Primorsk rose in the first half of January to 3.4 million tonnes from 2.5 million tonnes in the same period of December.
It includes 3.1 million tonnes of Russian oil, which is up 35 per cent from 2.3 million tonnes in the corresponding period of December.
Exports of Russian oil from these ports to Asia January 1 to 15 increased 27 per cent to 2.8 million tonnes from 2.2 million December 1 to 15.
Russia has been diverting its trade away from the EU to other markets, amid a political rift with Europe over Ukraine.
The main buyers of Russia's flagship Urals oil blend in January have remained India and China.
The sources stated the emergence of new logistical schemes is also likely to improve profitability of such exports.
Meanwhile, at least four Chinese-owned supertankers are shipping Urals crude to China.
Urals supply to India by Aframax vessels was 1.5 million tonnes January 1-15, which is below the 1.7 million tonnes seen in the same period in December.
https://www.shippingazette.com/menu.asp?encode=eng
|
Back:
Next:
