Russia to Keep July Urals Exports From Primorsk at Five-Year Low
Russia plans to ship less than a million barrels a day of Urals crude from Primorsk port for a second month, little changed from June, which was the lowest in more than five years, a preliminary loading program showed.
Primorsk on the Baltic Sea will export 38 cargoes of 100,000 metric tons each and one shipment of 30,000 tons in July. The shipments will total 3.83 million tons, or 905,610 barrels a day, down 2.5 percent from this month, the schedule obtained by Bloomberg News showed. Prior to June, the port had loaded more than a million barrels a day every month since at least March 2008, when Bloomberg began tracking the data.
Exports from Primorsk for June were revised down to 3.8 million tons from 3.9 million tons after one unassigned position failed to be filled. Russia is the world’s largest energy exporter.
Ust-Luga, also on the Baltic, will ship 19 cargoes of 100,000 tons each, unchanged from June, according to the program. That amounts to 449,258 barrels a day.
Exports from Novorossiysk on the Black Sea will reach 3.235 million tons in July, or 764,921 barrels a day, up 5.7 percent from June. The July schedule includes four 80,000-ton cargoes of Siberian Light grade and 27 Urals cargoes.
Novorossiysk has one unassigned slot of 80,000 tons and Ust-Luga has one 100,000-ton position available next month, according to the program.
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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