Base oil exports in Russia in April fell dramatically as maintenance season reaches its peak.
Total Russia rail and river exports decreased 27% in April compared to the previous month. However, 82kt is still the highest number for April exports since 2017 according to Argus Base Oils data. Last year’s number in April was 64kt.
The most drastic drop happened in Kaliningrad (-46%) and Liepaja (-78%). This change is especially interesting because in March both exports increased the most (+33% and +58% accordingly).
Black Sea exports fell as well: 33% less comparing to March. Lukoil’s Volgograd refinery has started navigation season very slow: only 4,7kt were exported in April.
Yaroslavl and Omsk refineries held maintenance works during February – March which effected April loadings as well.
The only export destination which showed increase in loading in April was Lithuania, where base oil exports grew 56% — from 3,99kt to 9,49kt.
After increasing for 2 months in a row, the exports of Lukoil’s refinery in Volgograd were 49% less in April. The only refinery that increased the export volumes 16% was Rosneft’s Novokuybyshevsk refinery.
Russian domestic loadings in April also decreased 17%. The most remarkable drops in Russian domestic base oil supplies were in Yaroslavl (-89%) and Nizhnekamsk (-50%).
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