HomeMediaLatest NewsRussia has increased oil marine exports amid incidents at refineries

Russia has increased oil marine exports amid incidents at refineries

Kondratiev Sergey V. Principal Director on Economic Studies, Head of the Economic Department

Sergey Kondratiev, Principal Director on Economic Studies at the Institute for Energy and Finance, commented to the RBC Daily newspaper on the Ukrainian drone attacks consequences on Russian refineries for the domestic market of petroleum products.

According to the estimates of the Institute for Energy and Finance, in March, the average daily oil refining may decrease by 5-6% compared to February. However, for the domestic market, the total volume of processing is not so important as the volume of gasoline and jet fuel production, Sergey Kondratiev explains.

According to an RBC source in the oil industry, on March 15, the government held a meeting with oil companies. However, it was mostly about ensuring the safety of oil refineries and there is no talk about the possibility of imposing an embargo on diesel fuel yet, the source said.

"I would not expect a ban on the export of diesel fuel. The volume of its production significantly exceeds domestic demand, and a restriction on supplies abroad can be introduced only in the case of a noticeable increase in prices on world markets (and the translation of this growth to the domestic market)," the expert concludes.

Kondratiev Sergey V. Principal Director on Economic Studies, Head of the Economic Department
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