MOSCOW (Reuters) -Russia has revised up its September crude export plan from western ports to 2.1 million barrels per day (bpd), an 11% increase from the initial schedule, as drone attacks on domestic
Russia revises up September oil exports from western ports by 11%,
Overview of Russia's Oil Export Adjustments
MOSCOW (Reuters) -Russia has revised up its September crude export plan from western ports to 2.1 million barrels per day (bpd), an 11% increase from the initial schedule, as drone attacks on domestic refineries reduce local demand for crude, two industry sources and Reuters calculations showed.
Details of the Export Increase
Shipments from the ports of Primorsk, Ust-Luga, and Novorossiisk are now expected to rise from 1.9 million bpd in the preliminary plan and also from 2.0 million bpd exported in August.
Impact on Indian Market
The increase in Urals crude supply is expected to meet extra spot demand in India, where purchases of the grade declined in August, but remain strong despite Western sanctions. Indian Finance Minister Nirmala Sitharaman said last week that Indian companies would continue buying Russian oil.
Challenges Faced by Russian Facilities
The spot supply of Russian oil has not changed from earlier, the head of finance at Indian Oil Corp, the country's top refiner, said earlier this week.
Since late August, several Russian facilities have been hit, including Rosneft’s Ryazan refinery early in September and Kuibyshevsk refinery, which halted operations on August 28. Fires also recently broke out at the Afipsky and Krasnodar refineries after Ukrainian drone attacks.
(Reporting by Reuters; Editing by Kirsten Donovan)
