NEW DELHI: Russian seaborne gas oil and vacuum gasoil (VGO) exports sustained their dominance in February, primarily to China and India, as reported by merchants and LSEG knowledge. This development has continued because the European Union imposed a complete embargo on Russian oil merchandise in February 2023, redirecting nearly all of Russia’s gas oil and VGO to various markets, primarily in Asia.
In February 2024, direct shipments of gas oil and VGO from Russian ports to India surged to 0.7 million metric tons, up from 0.46 million tons in January, based on Reuters calculations primarily based on LSEG knowledge. Equally, deliveries to China reached 0.7 million tons, whereas Singapore and Malaysia acquired 0.63 million tons and roughly 120,000 tons, respectively.
India and China procure these merchandise for refining, partly substituting costlier Urals crude. However, a considerable portion of Russian gas oil and VGO in February underwent ship-to-ship (STS) transfers close to Greece’s Kalamata port, amounting to just about 0.7 million tons, with merchants indicating that almost all of those cargoes in the end attain Asian locations.
In the meantime, exports of soiled oil merchandise from Russian ports to Turkey dipped to round 215,000 tons in February from 340,000 tons within the prior month. Moreover, Russia has notably ramped up its gas exports to Senegal this yr resulting from heightened bunker demand, as extra companies go for routes round Africa as a substitute of by way of the Crimson Sea.
February witnessed gas oil shipments from Russian ports to Senegal totaling 187,300 tons. General, Russian seaborne exports of gas oil and VGO noticed a 9% improve month-on-month in February, reaching 3.76 million tons, as per LSEG knowledge.
In February 2024, direct shipments of gas oil and VGO from Russian ports to India surged to 0.7 million metric tons, up from 0.46 million tons in January, based on Reuters calculations primarily based on LSEG knowledge. Equally, deliveries to China reached 0.7 million tons, whereas Singapore and Malaysia acquired 0.63 million tons and roughly 120,000 tons, respectively.
India and China procure these merchandise for refining, partly substituting costlier Urals crude. However, a considerable portion of Russian gas oil and VGO in February underwent ship-to-ship (STS) transfers close to Greece’s Kalamata port, amounting to just about 0.7 million tons, with merchants indicating that almost all of those cargoes in the end attain Asian locations.
In the meantime, exports of soiled oil merchandise from Russian ports to Turkey dipped to round 215,000 tons in February from 340,000 tons within the prior month. Moreover, Russia has notably ramped up its gas exports to Senegal this yr resulting from heightened bunker demand, as extra companies go for routes round Africa as a substitute of by way of the Crimson Sea.
February witnessed gas oil shipments from Russian ports to Senegal totaling 187,300 tons. General, Russian seaborne exports of gas oil and VGO noticed a 9% improve month-on-month in February, reaching 3.76 million tons, as per LSEG knowledge.
