Russia’s Transnet says oil exports seen steady in Sept: Ifx

01 Sept. 2020-MOSCOW: Russian oil pipeline monopoly Transneft said on Monday crude oil exports via its network of pipelines are seen steady next month, according to a report by the Interfax news agency.

It said the export plan had been set at 15.7 million tonnes in September compared with 16.2 million in August, which is a day longer, the Interfax news agency reported.

The company also said, according to Interfax, that oil exports via the Russian ports fell by 33.5 per cent in August to 7.7 million tonnes and are seen at 7.5 million tonnes in September. Weaker sea-borne oil exports have bolstered Russia’s flagship Urals crude oil blend. Transneft handles more than 80 per cent of Russia’s total oil exports.

Also, Russian oil exports via the Druzhba pipeline to Europe are expected to fall 7.7 per cent in September versus August to 3.6 million tonnes (26.4 million barrels), while oil exports via the pipeline were down 8 per cent year on year at 3.9 million tonnes this month.

Oil exports to China are seen declining by 10 per cent in September compared with August to 3.2 million tonnes.