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Russia sets record for oil exports – Bloomberg

Feb 28, 2024

Total Russian oil exports have risen to the highest level in four months.

This is reported by Bloomberg.


The temporary suspension of Russian Sokol crude oil supplies from Sakhalin Island on the Pacific coast was offset by a rapid increase in ESPO crude oil supplies from the port of Kozmino. Exports rose to almost the highest level in four months.

Thus, weekly deliveries increased by about 365,000 barrels per day, reaching 3.5 million, which is about 215,000 barrels per day higher than the target as of November 5, 2023.

This helped to offset the difficulties with Falcon crude that arose due to Indian refiners' fears of US sanctions. At present, at least 14 cargoes with a total volume of 10 million barrels of Falcon oil are still on board.

Earlier it was noted that three Sokol cargoes were delivered to India, and several others were redirected to China.

As a reminder, India has resumed imports of Russian Sokol oil after a two-month break. According to the newspaper's sources, the Indian company Hindustan Petroleum Corp (HPCL.NS) has purchased Sokol oil from a trader. The country is likely to pay for the oil in UAE dirhams.

In addition, two oil tankers stopped their operations off the coast of Greece a few days after the US imposed new sanctions on 14 Russian ships. According to Bloomberg, the NS Creation and Zaliv Amursky vessels stopped transshipment of oil cargo in the Laconic Gulf south of Greece.

Author – Anastasiya Glotova, 28/02/2024

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