Russia plans lower oil exports for Q1 2022 despite OPEC+ plan to raise output

  • 12/17/2021
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MOSCOW, Dec 17 (Reuters) - Exports and transit of oil from Russia are planned at 56.05 million tonnes in the first quarter of 2022 versus 58.3 million tonnes in the fourth quarter of 2021, a quarterly export schedule seen by Reuters showed on Friday. Russia"s plan for lower export loadings comes at a time of its planned gradual increase in the state"s oil output next year under a recent OPEC+ agreement. read more On a daily basis Russia"s own oil exports and the transit of crude from Kazakhstan, Azerbaijan and Turkmenistan via Russia"s Transneft pipeline system will decline by 1.7% in the first quarter of 2022 compared to the fourth quarter of 2021, Reuters calculations showed. Russia"s quarterly oil export schedule is a document that states the limit for producers supplies via specific export routes and is based on their output level and requests for export. The producers may not export the full volume they are allowed to export, while exports above quota are subject to the state"s special permission and technical capacity of the Transneft system. Lower export loadings planned for the first quarter of 2022 may be a sign of Russia"s plans to increase domestic refinery runs, two traders in Russian oil market said. Oil exports from Russia"s Primorsk port are set to decline to 9.2 million tonnes in January-March 2022 from 9.9 million tonnes planned for export in October-December 2021, according to the document. Loadings from neighbour Ust-Luga port set at 8.5 million tonnes, down from 8.8 million tonnes in the fourth quarter. Oil exports from Black Sea"s Novorossiisk were increased to 6.2 million tonnes for the next quarter from 6.1 million tonnes in the current quarter. Russia"s oil supplies via the Druzhba pipeline are set to decrease slightly. Urals oil exports to Germany and Poland set at 8.81 million tonnes down from 8.94 million tonnes in the first quarter of 2022. Russian oil exports to Czech Republic, Slovakia and Hungary set to decline to 3.12 million tonnes in January-March 2022 from 3.43 million tonnes in October-December. Russia"s supplies to Belarus Mozyr refinery set at 1.71 million tonnes for the first quarter of 2022, slightly down from 1.98 million tonnes in the fourth quarter of 2021. Oil exports from Russia"s Far East Kozmino port are set to fall to 8.4 million tonnes in the first quarter next year from 8.8 million tonnes planned for the fourth quarter of this year, according to the document.

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