Russia’s Western Port Oil Exports Up 25% After Drone Attacks

(Reuters) – Russia boosted oil exports via its western ports by 25% in September versus August, according to three trading sources, as refinery outages caused by Ukrainian drone attacks freed up more crude.

September exports via the western ports of Primorsk, Ust-Luga and Novorossiisk rose to 2.5 million barrels per day (bpd), the sources said.

Ukraine has stepped up its drone attacks on refineries and export pipelines, causing shortages in Russia of some fuels.

Authorities have responded with plans to curb exports of gasoline and diesel.

Russian pipeline monopoly Transneft has warned oil producers they may have to cut output due to the attacks, industry sources said in September.

For now, higher exports are allowing Russia to stick to its crude oil production plans.

Daily loadings of Urals, KEBCO and Siberian Light grades at Primorsk, Ust-Luga and Novorossiisk in September jumped by 500,000 barrels per day (bpd), up 25% from August, Reuters estimates showed.

Oil loadings were raised by 600,000 bpd versus initial plans, traders said.

Refinery outages in September surpassed August’s record high levels and were roughly 1.5 times higher than the same month last year, one trader citing preliminary refining data said.

Exports rose despite drone attacks on the top export ports of Primorsk and Novorossiisk, which briefly suspended loadings, and on the Transneft pipeline system in August and September.

Reporting by Reuters; editing by Guy Faulconbridge and Jason Neely

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