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Russia Cuts Novorossiysk October Oil Exports by 80,000 Tons

Russia will reduce October crude exports from the Black Sea port of Novorossiysk after one cargo of 80,000 metric tons was dropped, a final loading program obtained by Bloomberg News showed.

Shipments from the port will be 3.7 million tons next month, or 874,871 barrels a day, according to the plan. A consignment, owned by OAO Russneft, for loading on Oct. 21 to Oct. 22 was dropped from the preliminary schedule released yesterday, while a top-up lot of 40,000 tons was added.

Exports are 15 percent more than the 3.226 million tons planned for September. The Novorossiysk program for October includes three 80,000 ton cargoes of Siberian Light grade. The remaining 32 lots, totaling 3.46 million tons, are Urals blend.

Exports from the Baltic Sea will be unchanged from the preliminary plan at 5.605 million tons for Primorsk and 2.1 million tons for Ust-Luga, according to the final program.

The final schedule will be released later this month. Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

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