Processing oil at Russian refineries

Sergey Kondratiev, Deputy Head of the Economic Department of the Institute for Energy and Finance, gave a comment to the Kommersant newspaper about oil processing at Russian refineries.

The EU embargo on petroleum products will have an impact on the demand for Russian fuel in the short term — refining volumes in February may decrease by 0.2–0.3 million barrels per day, Sergey Kondratiev believes. He also assumes that this decline will be partially dampened by the intensification of shipments to the EU on the eve of the embargo and the seasonal increase in domestic demand in March.