FSU Oil Trade in August 2012

Source: OPEC 9/22/2012, Location: Asia

In July, total crude oil exports from the FSU declined by 206 tb/d or 3.25% to average 6.1 mb/d. The drop in the monthly crude exports came on the back of increased domestic demand. Crude exports through the Russian pipeline fell by 125 tb/d or 3% to average 4.0 mb/d. This decline was mainly due to refineries coming back from maintenance, which led to crude exports reaching the lowest level since August 2011. Shipments from the Druzhba pipeline to Central and Eastern Europe dropped by 133 tb/d or 12.4% to average 939 tb/d. Black Sea exports saw a decline by 9.4% to average 867 tb/d, while exports from the Baltics increased by 96 tb/d or 6.3% to average 1610 tb/d in July.

Loadings of CPC blend dropped 48 tb/d or 7% from the previous month, to average 648tb/d. This decline resulted from maintenance at the Kazakhstan Tengiz field. Total FSU products exports rose by 13 tb/d or 0.5% from a month earlier to average 2.6 mb/d in July. This increase in product exports was mainly supported by increased volumes of gasoil and fuel oil as the exports of both products rose by 16 tb/d and 20 tb/d respectively. On the other hand, exports of VGO fell by 16 tb/d or 6% from the previous month.

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