Reuters: Russia seeks to increase oil exports after Ukrainian attacks on refineries

Russia has increased its plan to export crude oil from European ports by 200 000 barrels per day after Ukrainian drone attacks disrupted oil refineries and left more crude available for sale.

Reuters reports this, citing three sources.

The loading from Primorsk, Novorossiysk and Ust-Luga is expected to reach about 2 million barrels per day, compared with the original target of 1.8 million barrels per day. The plan was adjusted after attacks on 10 Russian refineries in August, which Reuters estimates knocked out at least 17% of Russia’s refining capacity, or 1.1 million barrels per day.

However, export planning remains uncertain due to continued strikes and changes in repair schedules, so delays and revisions to volumes are likely.

“The attacks are ongoing, and the repair timelines are changing daily. It is unclear how much Russia can upload this month or next,” one of the sources said.

Russian oil sellers have not yet received final plans for September, although they usually have a full plan a week before the start of the month.

One source estimated that damage to the “Druzhba” pipeline and the Ust-Luga route could reduce exports by 500 000 barrels per day. Vessel availability is also limited as of late August, preventing Russia from increasing supplies.

Another source said that the port of Ust-Luga, which was attacked by the Security Service of Ukraine and Special Operations Forces on August 24, is currently operating at half its capacity of 700 000 barrels per day. It is unclear when the terminal might be able to operate at full capacity. Oil from there is being redirected to Novorossiysk and Primorsk.

The loading of Russian European ports is usually adjusted depending on the throughput of oil refineries, since most of the plants are located in the central part of Russia. Exports from eastern ports remain virtually unchanged.

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