02 May 2020 | 07:36 UTC — Moscow

RUSSIA DATA: April crude and condensate production up 0.5% on month to 11.349 mil b/d

Highlights

Exports up 1.6% on month to 5 mil b/d

Domestic deliveries down 8% on month to 5.5 mil b/d

Moscow — Russian crude and condensate production totaled 46.45 million mt in April, according to data released Saturday by the Central Dispatching Unit of the Russian energy ministry. This is equivalent to around 11.349 million b/d, up 0.5% on month and 1% on year.

Russia was free to produce at will in April, as the previous OPEC+ agreement expired at the end of March and the current agreement only came into force at the beginning of May. Russia initially expected to increase output by 200,000 b/d in April, but the impact of the coronavirus pandemic and the sharp fall in oil prices affected these plans.

From May, Russia has agreed to significantly cut production under the latest OPEC+ agreement. It agreed to cut crude output by 2.5 million b/d in May and June, 2 million b/d in July-December, and 1.5 million b/d in January 2021-April 2022. Its baseline for cuts is 11 million b/d.

On Wednesday, Russian energy minister Alexander Novak said he expects Russian oil output to be down 19% in May on February 2020 levels. He said that production is likely to fall by 10% on year in 2020.

Russia produced 560 million mt of crude and condensate in 2019, equivalent to around 11.252 million b/d.

Deliveries

Russian oil exports were 20.748 million mt, or around 5 million b/d in April. Daily average exports were up 1.6% on month.

Deliveries to Belarus were 1.48 million mt, or around 361,124 b/d, up significantly on shipments of 77,508 b/d in March. Shipments increased after Russian and Belarusian officials said they have resolved a dispute on crude supply terms that limited supplies in the first 3 months of this year.

Deliveries of Russian oil to the domestic market totaled 22.36 million mt in April, or around 5.5 million b/d. Daily average deliveries to Russian refineries fell 8% on month.

Crude output by key Russian producers ('000 b/d):

April 2020
March 2020
% change
April 2019
% change
Rosneft
4,277.9
4,306.0
-0.6
4,374.5
-2.2
Lukoil
1,677.7
1,649.2
1.7
1,643.9
2
Surgutneftegaz
1,295.2
1,219.6
6.2
1,215.1
6.6
Gazprom Neft
1,327.7
1,238.0
7.2
1,201.0
10.5
Tatneft
487.1
577.6
-15.7
591.1
-17.6
Bashneft
184.9
186.2
-0.7
183.7
0.7
Novatek
230.3
236.7
-2.7
240.8
-4.4
Russneft
141.8
145.5
-2.5
140.9
0.6

Russian crude pipeline exports ('000 b/d):

April 2020
March 2020
% change
April 2019
% change
Primorsk
975.5
803.0
21.5
928.9
5
Ust-Luga
464.0
472.5
-1.8
561.5
-17.4
Novorossiisk
412.5
351.9
17.2
413.1
-0.1
Kozmino
734.4
675.3
8.8
646.8
13.5
China
753.1
783.8
-3.9
832.4
-9.5
Druzhba
867.0
1,040.7
-16.7
727.5
19.2

Source: Central dispatching unit of the Russian Energy Ministry

Editor:

Andy Critchlow