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25

Oil exports from the Russian Federation continue to decline amid growing volumes of oil refining within the country

Oil exports from Russia continue to decline, which is due to an increase in oil refining within the country.

Oil exports from the Russian Federation continue to decline amid growing volumes of oil refining within the country Oil exports from the Russian Federation continue to decline amid growing volumes of oil refining within the country

Oil exports from Russia continue to decline, which is due to an increase in oil refining within the country.

 

Thus, one can observe a decrease in the volume of oil transiting through the Druzhba trunk pipeline via Belarus. In 2010, transit through the republic amounted to 68 million tons; in 2011 – 66.6 million tons, in 2012 – 53 million tons and in 2013 – only 50 million tons. This year, Russian oil transiting via Belarus will also total approximately 50 million tons.

 

The decline in oil exports occurs as oil volumes remain virtually unchanged throughout the oil pipeline system of Transneft, JSC, – approximately 481 million tons of oil per year, which indicates the growth of oil refining in the country.

While oil exports in 2013 amounted to 228.6 million tons (9.6 million tons less as compared to 2012), in seven months of the current year the divergence from last year’s parameter has already reached 7.7 million tons – up to 126.3 million tons. In 2014, Russia plans to export 223.7 million tons, but this figure may turn out to be less.

 

Oil that is not delivered for export is pumped to Russian refineries. It is assumed that in 2014 the volume of oil refining in Russia will reach approximately 261.3 million tons.

Source : Neftegaz.RU