March 2, 2024
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OIL & GAS

Russia’s November Seaborne Diesel Exports Rise as Ban Lifted

Seaborne diesel and gasoil exports from Russian ports surged by 8.5% in November compared to the previous month, reaching approximately 2.8 million metric tons. This growth followed the lifting of an export ban and an increase in production, as reported by traders and data from the London Stock Exchange Group (LSEG).
Russia had temporarily banned diesel exports from September 21 to address a domestic shortage. The ban was partially lifted on October 9, allowing the resumption of ultra-low-sulphur diesel (ULSD) exports via Transnet pipelines. On November 22, Russia further lifted the ban on summer diesel exports, according to Reuters.
In the first three weeks of November, diesel output from Russian refineries witnessed a nearly 11% increase from the average October level, reaching 238,120 tons per day, according to sources cited by Reuters.
Russian ULSD shipments to Brazil reached a record high in November, signalling a shift in Brazil’s energy supplies from the U.S. to Russia. This change was attributed to a full European Union embargo on Russian oil products implemented in February.
Russian diesel and gasoil seaborne exports to Turkey experienced a 16% month-on-month increase in November, reaching 750,000 metric tons, as indicated by shipping data.
In the same month, around 550,000 metric tons of diesel and gasoil from Russian ports were en route to various African countries, including Libya, Togo, Ghana, Senegal, and Ivory Coast, according to LSEG data.

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