Transneft expects to ship 8.5 mil b/d of Russian oil in April

Moscow — Russian pipeline operator Transneft said April 1 that it expects to ship 34.82 million mt, equivalent to around 8.5 million b/d, of Russian oil in April.

This would represent an increase of 2.6% on daily average deliveries of 8.28 million b/d shipped in March 2021.

Increases in month-on-month delivery volumes in early 2021 reflect gradual increases in Russia's crude production quota agreed under the OPEC+ deal from the beginning of the year.

March 2021 average daily deliveries were down 11% on 2020 volumes of 9.32 million b/d. Lower delivery volumes in early 2021 compared to early 2020 reflect more significant crude production cuts under the OPEC+ agreement from May 2020 introduced in response to the impact of the coronavirus pandemic.

Transneft said that April deliveries to Russian refineries will total 20 million mt, equivalent to around 4.9 million b/d, flat on the month. March deliveries to Russian refineries were down 4% on the year, from 5.1 million b/d in March 2020.

Transneft's exports of Russian oil totaled 13.02 million mt in March 2021, equivalent to around 3 million b/d, down 25% on year.

Transneft expects its total oil deliveries to reach 36.33 million mt, equivalent to around 8.88 million b/d, in April. In addition to Russian oil, Transneft ships transit volumes from Kazakhstan, Azerbaijan, Belarus and Turkmenistan.

Russian exports b/d

*Deliveries via the ESPO pipeline and transit via Kazakhstan

Source: Transneft