Page 98 - RusRPTDec23

while Malaysia accounted for around 11% of deliveries. Overall, China’s oil imports went down by 11% in September month-on-month to 11.2mn barrels per day.
Russia has been India’s top oil supplier for a year, having ensured 36% of the country’s total imports in September, OPEC said citing data provided by the Kpler analytic agency. Iraq and Saudi Arabia each provided 20% of supplies to India. The country’s total oil imports slipped by 4% in September compared with August to 4.3mn barrels per day, reaching this year’s lowest level.
Russia delivered a historical record of 207,400 tonnes of crude to Brazil worth $133mn in October, the Brazilian statistics service said on November 10. Brazil resumed the purchases from Russia in September after a two-year pause. In October, Russia was the third largest supplier of oil to Brazil after the US and Guyana.
Oil is poised to become US’ single largest export product. Oil is Poised To Become US’ Single Largest Export Product. US oil supply offset some of the OPEC+ cuts in the first half of this year as it is set for record-high production in 2023 and 2024. America's crude oil production is expected to average 12.92mn barrels per day (bpd) this year and 13.12mn bpd next year—new record highs, the Energy Information Administration (EIA) says in its October Short-Term Energy Outlook.
Oil exports are also at a record high, averaging 3.99mn bpd in the first half of 2023—up by nearly 20% from the first half of 2022. In August alone, the value of US oil exports, at $10.3bn, had the highest share of all American exports with 6%, followed by gasoline and other fuels, per WorldCity data. In terms of tonnage, oil's share was also the highest—at 24%, followed by LNG and gasoline and other fuels.
India saves $2.7 billion by importing discounted Russian oil. India saved approximately $2.7 billion in the first nine months of 2023 by importing discounted Russian oil, Reuters reported on Nov. 8, citing government data.
Russia may provide tax exemptions to the joint Russian-Vietnamese oil company Rusvietpetro in exchange for Russian companies being allowed to tap oil fields in Vietnam. Under these conditions, Russia’s budget revenues could go up by 65.5bn rubles ($744.6mn), Izvestia wrote citing government documents. "
9.1.1c Gas sector news
98 RUSSIA Country Report December 2023 www.intellinews.com
European countries continue boosting withdrawal of gas from their underground gas storage (UGS) facilities in November, with the EU having started the current heating season with record gas reserves close to 100%.