Primorsk June Urals Crude Exports Lowest in at Least Five YearsJake Rudnitsky
Russia, the world’s largest energy exporter, plans to ship less than 1 million barrels a day of Urals crude from Primorsk port on the Baltic Sea for the first time in about five years, a final loading program showed.
Primorsk will ship 39 cargoes in June totaling 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 1 million barrels a day every month since at least March 2008, when Bloomberg began tracking the data.
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 and Ust-Luga has two positions available, according to the program. The volumes and number of unassigned positions are the same as in a preliminary program obtained May 24. Each slot is for 100,000 tons.
Exports from Novorossiysk on the Black Sea will be 3.163 million tons next month. That includes about 753,000 barrels a day of Urals, up 13 percent from May, and 20,000 barrels a day of Siberian Light grade. There is one unassigned Urals cargo of 80,000 tons at the port.
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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