Russia is ready to introduce a partial ban on diesel exports till the tip of the 12 months to sort out shortages following a spate of Ukrainian drone assaults on Russian refineries however merchants stated they anticipated the measure to have little impression on gas flows.
Russia’s restrictions will solely be utilized to exporters who don’t produce the gas and whose share of exports is small.
Round three-quarters of diesel exports are shipped by producers by way of the North and South pipelines which lead, respectively, to Baltic and Black Sea ports. These volumes is not going to be restricted.
Diesel from non-producers is provided primarily by rail to Central Asian international locations, which even have intergovernmental agreements with Russia on gas shipments, and these exports are additionally exempt from the brand new restrictions.
Russia additionally plans to increase the present gasoline export ban till the tip of the 12 months, proscribing the export of oil merchandise in an effort to curb gas shortages in a number of areas.
In keeping with business sources, Russia produced nearly 86 million metric tons of diesel in 2024 and exported some 31 million tons.
Russia has already launched a prohibitive export tariff for non-producers of the gas of fifty,000 roubles ($598) per ton, which worsened the margin for merchants and led to a lower in provides.
The wholesale value of diesel stands at round 70,000 roubles per ton on the St Petersburg trade.
“In keeping with analysts’ estimates, the decline in Russia’s diesel exports might attain 0-2%, and the quantity can be nearer to zero,” stated a dealer who declined to be named as a result of sensitivity of the matter.
“The ban is not going to end in any inflow of diesel gas into the home market,” one other buying and selling supply stated.
($1 = 83.5500 roubles)
(Reuters)
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