Primorsk June Urals Crude Shipments Lowest Since at Least 2008

Russia, the world’s largest energy exporter, plans to ship less than one million barrels a day of Urals crude from Primorsk port on the Baltic Sea for the first time since at least 2008, a preliminary loading program showed.

Primorsk will export 39 cargoes in June totalling 3.9 million metric tons, or 953,000 barrels a day, down 16 percent from this month, the schedule obtained by Bloomberg News showed. The port has loaded more than a million barrels a day every month since at least March 2008, when Bloomberg began tracking the data.

Russia’s available refining capacity in June is forecast to be at the highest level of the year to date, reducing the amount of crude available for export, according to a weekly report sent May 23 by the Energy Ministry’s CDU-TEK.

Ust-Luga, also on the Baltic, will ship 19 cargoes of 100,000 tons each, according to the program. That amounts to 464,000 barrels a day, 6.5 percent less than planned this month.

Primorsk has three unassigned slots of 100,000 tons each and Ust-Luga has two 100,000-ton positions available, according to the program.

Exports from Novorossiysk on the Black Sea will be 3.15 million tons next month, or about 770,000 barrels a day, up 0.3 percent from May. The June schedule includes one 80,000-ton cargo of Siberian Light grade and 29 Urals cargoes.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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