Moscow — Russian fuel oil exports rose 21% on the year to 2.476 million mt, according to data released Friday by the Central Dispatching Unit of the Russian Energy Ministry.
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The rise in exports was down to weak domestic demand and river navigation, a major outlet for fuel oil exports, opening earlier this year following a mild winter.
Exports were down 12% on the month, partly due to April being a shorter month. Exports were also affected by lower throughput at Russian refineries which carried out planned maintenance, but also cut runs due to weaker demand for oil products in the wake of restrictions introduced to combat the coronavirus' spread.
Domestic fuel oil deliveries totaled 581,241 mt in April. This was down 50% on the year, and 39% from March. Domestic demand for fuel oil dropped as the heating season gradually came to an end, meaning demand for power generation fell. Demand was also hit after some industries closed as April was declared a non-working month.
Russian fuel oil output totaled 3.225 million mt in April, down 7.5% on the year and 14.2% on the month.
Fuel oil exports by key producers (mt)
Domestic fuel oil deliveries by key producers (mt)
* Slavneft is 50:50 owned by Gazprom Neft and Rosneft
** Independent refineries, not part of vertically integrated companies