Page 106 - RusRPTDec22

UK ports since February, although they “were classified as imports from other countries,” the newspaper reported. According to the newspaper, in total Russian oil worth 778mn British pounds has arrived at ten British ports since March. Russia imported to the UK oil for more than 78mn British pounds in June, although the National Statistics Service (ONS) reported that the country did not import oil from Russia. Officially imported oil in June is listed as imported from the Netherlands, Estonia, Poland or Belgium.
Traders from the European Union are proactively buying Russian diesel fuel before the EU ban on Russian petroleum products will come into force in February 2023, Reuters news agency reports.
Supplies from Russia accounted for 44% of total diesel fuel import by the EU in November 2022, compared to 39% in October, Reuters said.
"Russian diesel loadings destined for the Amsterdam-Rotterdam-Antwerp (ARA) storage region" moved up to 215,000 barrels daily from November 1 to 12, up by 126% from October, senior market analyst at energy analytics firm Vortexa Pamela Munger said.
"The EU will have to secure around 500-600 thousand barrels per day of diesel to replace the Russian volumes, replacements will come from the US as well as east of Suez, primarily the Middle East and India," Eugene Lindell, refining and products market analyst at FGE, said.
The EU Council approved the sixth package of sanctions against Russia on June 3, including the delayed ban on seaborne supplies of Russian petroleum products until February 2023.
Russian oil major Rosneft accounts for 7% of China's oil demand, while overall Russia's sales rose by 9.5% to 72mn tonnes in January–October, CEO Igor Sechin said at a Russian–Chinese business forum on November 29. "Rosneft is the main Russian oil supplier to China, ensuring about 7% of the entire demand of the Chinese market in crude. The entire amount of exports of Russian oil to China rose by 9.5% and amounted to almost 72mn tonnes in January–October," Sechin said. The official separately said that Russian electric power exports to China grew by 33% in the period and pipeline gas by 60%. Russia's coal exports to China amounted to 53mn tonnes in the period, accounting for about 23% of imports by the country. Sechin said that the volume of pipeline gas sales can exceed 100bn cubic meters per year in the future, and liquefied natural gas (LNG) sales may be comparable by amount.
106 RUSSIA Country Report December 2022 www.intellinews.com