Do More With Reuters
Partner Services

Russia refinery runs fall 1.5 pct in January

Thu Feb 28, 2008 9:52pm IST
 
Email | Print | | Single Page
[-] Text [+]

MOSCOW, Feb 28 (Reuters) - Russian refining runs fell by 1.5 percent in January versus December, mainly due to seasonal factors and higher exports of crude oil via sea ports, official data showed on Thursday.

Energy Ministry data showed that Russian refineries processed 19,768,000 tonnes (4.67 million barrels per day) compared with 20,075,800 tonnes (4.75 million bpd) in December.

In year-on-year terms, runs were up by 3.6 percent.

Oil companies usually cut processing in December and January on lower demand -- especially for gasoline and gas oil -- during the slow winter holiday season.

The ministry has said Russian seaborne oil exports supplied to ports by pipeline monopoly Transneft rose by 2.7 percent, month-on-month, to 2.79 million bpd in January, although Transneft's total exports, which also include shipments via the Druzhba pipeline, edged down by 0.4 percent to 4.28 million bpd.

The data showed on Thursday that Russia's top refiner, Surgut's (SNGS.MM: Quote, Profile, Research) Kirishi plant, cut processing by 4.8 percent to 382,200 bpd from 401,353 bpd in December.

Oil processing at the Omsk refinery, owned by Russia's third largest oil firm, Gazprom Neft SIBN.NN, fell by 10.3 percent to 307,624 bpd.

Moscow refinery, jointly owned by Gazprom Neft and Sibir Energy (SBE.L: Quote, Profile, Research), cut processing by 7 percent to 195,970 bpd.

The country's largest oil producers, state-controlled Rosneft (ROSN.MM: Quote, Profile, Research) and LUKOIL (LKOH.MM: Quote, Profile, Research), 20 percent of which is owned by ConocoPhillips (COP.N: Quote, Profile, Research), increased refining -- Rosneft by 2.2 percent to 1,021,636 bpd and LUKOIL by 2.7 percent to 884,613 bpd.  Continued...

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

People light candles at a vigil to commemorate the victims of last year's militant attacks in Mumbai, in front of the India Gate in New Delhi November 26, 2009. Mumbai held tearful memorials and police staged a show of strength on Thursday as India's financial hub marked the first anniversary of militant raids that killed 166 people and pushed up tensions with Pakistan. REUTERS/Rupak De Chowdhuri
One Year Later

Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and pushed up tensions with Pakistan.  Slideshow | Full Coverage