Russian shipments of Urals crude from Primorsk are set to drop by 44 percent in the first six days of December from the same period a month earlier.
Exports from the Baltic Sea port will be 600,000 metric tons from Nov. 30 to Dec. 6, compared with 1.07 million tons this month, according to a preliminary loading program obtained by Bloomberg News.
Russian refineries are returning to full capacity after seasonal maintenance, leaving less crude available for export. Processors will have 1.19 million tons of capacity offline for repairs in November, an average of 290,000 barrels a day, while 19,000 tons will be shut next month, according to a Nov. 14 forecast from the Energy Ministry’s CDU-TEK unit.
Urals exports from the Baltic port of Ust-Luga will be 400,000 tons from Nov. 30 to Dec. 5, unchanged from the same period this month, according to the plan. Novorossiysk on the Black Sea will ship 600,000 tons of crude from Dec. 1 to Dec. 6, also stable from November.
An official from OAO Transneft, Russia’s oil pipeline operator, declined to immediately comment on the drop of exports from Primorsk. She asked not to be identified because of company policy.