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. Last Updated: 07/27/2016

Crude-Oil Exports to Rise 7.5%

LONDON -- Russia intends to export 150,000 barrels per day more crude oil to international markets in August than it planned to this month, say traders with a preliminary August schedule from pipeline operator Transneft.


Russian crude exports this month are scheduled to reach 2.16 million barrels per day from a planned 2.01 million barrels per day on the month, say dealers citing the document.


But the volumes scheduled for next month include carryover from July and would amount to more than Russia has exported in any other months this year. In June, Russian exports were 1.914 million barrels per day after Transneft had anticipated 2.09 million barrels per day.


In June 1994, Russia showed it was capable of exporting up to 2.16 million barrels per day, the highest monthly level recorded by shipping and trade sources in 1994.


Analysts say the Ukrainian Black Sea port of Odessa and the Baltic terminal of Ventspils in Latvia are currently underused and Russia could export more through them.


But the variable weather at Russia's main Black Sea port of Novorossiisk and spot demand on the Friendship pipeline from consumers in central and eastern Europe are often big factors in how much actual Russian exports differ from scheduled volumes.


In August, Transneft anticipates sending about 750,000 barrels per day via Novorossiisk, compared to actual exports of 644,000 barrels per day in June.


While poor weather at the port is usually restricted to winter months, meeting this target would test Novorossiisk's recent capacity, some analysts say.


The most Novorossiisk has exported since January 1994 was 760,000 barrels per day in May 1994, shipping sources say.