Oil Loadings from Russia's Port of Novorossiisk Revised Up for October

October 7, 2024

© AlexBr / Adobe Stock
© AlexBr / Adobe Stock

Oil exports from Russia's Black Sea port of Novorossiisk were revised up by 0.22 million metric tons from a previous forecast to 2.42 million tons for October, two sources familiar with the plan said on Monday.

Initially oil loadings from Novorossiisk including Russian Urals and Siberian Light oil grades and Kazakh KEBCO oil were expected at 2.2 million tons in October.

Overall oil exports from Russia's western ports, Novorossiisk, Ust-Luga and Primorsk, are now planned at 9.52 million tons or some 2.25 million barrels per day (bpd), according to Reuters calculations based on the sources' data.

On a daily basis oil loadings from Russia's western ports are seen nearly 5% up from September, Reuters calculations show.

The revision in Russian oil exports comes after oil companies had rescheduled maintenance on several oil refineries, the sources said.

Rosneft's Tuapse refinery suspended processing from Oct. 1 due to low margins, according to Reuters sources.

Though most of October cargoes of Russian Urals oil have already been sold, the sources said there still may be additions to the loading plan in case of unscheduled refinery outages.


(Reuters - Reporting by Reuters)

Logistics News

APM Terminals Eyes $2 billion Investment in Indian Port

APM Terminals Eyes $2 billion Investment in Indian Port

Unifeeder, Sagarmala Finance Corporation Limited to Advance Sustainable Coastal Shipping in India

Unifeeder, Sagarmala Finance Corporation Limited to Advance Sustainable Coastal Shipping in India

DP World Pledges $5b Infrastructure Investment in India

DP World Pledges $5b Infrastructure Investment in India

Dry Bulk Vessel Market Softens as Coal Shipments Decline

Dry Bulk Vessel Market Softens as Coal Shipments Decline

Subscribe for Maritime Logistics Professional E‑News

The 'amazing summit' between Trump and Xi brings a tactical truce but not a major reset
Fed cuts boost earnings in major Gulf markets
Mercuria transports LME aluminum from Malaysia to New Orleans