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FSU Oil Trade - August 14

Source: OPEC 8/25/2014, Location: Asia

In June, total crude oil exports from the Former Soviet Union dropped by 92 tb/d, or 2%, to average 5.89 mb/d. Crude exports through the Russian pipelines declined as well, by 288 tb/d or 7.3%, to average 3.6 mb/d.

Total shipments from the Black Sea dropped by 52 tb/d, or 7%, to average 637 tb/d. This drop came as shipments from Novorossiysk dropped by 52 tb/d from a month before. Total Baltic Sea exports dropped by 183 tb/d in June as shipments from both Primorsk and Ust-Luga port terminals dropped by 65 tb/d and 119 tb/d, respectively. Total shipments through the Druzhba pipeline declined by 54 tb/d to average 932 tb/d while Kozmino shipments declined slightly by 9 tb/d, or 2%, to average 471 tb/d. Exports through the Lukoil system increased from the previous month, while both in the Barents Sea, where the Varandey offshore platform is located, and in the Baltic Sea, where the Kalinigrad port terminal is located, exports dropped by 7 tb/d and 4 tb/d, respectively.

Most other routes showed a gain in June from a month before. Generally, total Russian Far East exports were up by 50 tb/d, or 19%, from the previous month as volumes of both Aniva Bay and De Kastri port terminals went up 23 tb/d and 27 tb/d from May to average 307 tb/d. Central Asia’s total exports stood at 236 tb/d, up by 5 tb/d through the Kenkiyak-Alashankou pipeline. Total Baltic Sea exports went up by 54 tb/d, with all ports showing an increase except Kulevi port terminal which showed a 20 tb/d drop in exports over the previous month. They didn’t have any exports in June. All other ports in the Baltics showed higher volumes, with the Novorossiysk, Batumi and Supsa port terminals all showing increased exports of 25 tb/d, 23 tb/s and 27 tb/d, respectively, from May. In the Mediterranean Sea, BTC supplies showed an increase of 110 tb/d, or 20%, from the previous month to average 640 tb/d. While looking into product exports, total FSU product exports dropped by 126 tb/d, or 4%, from last month to average 3.5 mb/d. This drop in product exports came as a result of a decline seen in all products with the exception of gasoil which exported 11 tb/d more than last month. Exports of gasoline, naphtha, jet fuel, fuel oil and VGO all dropped in June from last month by volumes ranging between 89 tb/d and 2 tb/d.



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