22 Nov 2017 17:46

Russian oil exports up 0.6% to 191 mln tonnes in 9M - Rosstat

MOSCOW. Nov 22 (Interfax) - Russian oil and gas condensate exports rose 0.6% year-on-year in January-September 2017 to 191 million tonnes, the Federal State Statistics Service (Rosstat) said, citing Federal Customs Service (FCS) data, which include trade with Belarus.

Oil accounted for 26.9% of overall Russian exports in 9M 2017, up from 25.9% a year previously, and for 44.2% of overall fuel and energy exports, unchanged.

The average export price for oil in September 2017 was $370.2 per tonne, up 5.6% compared with August 2017. Urals blend traded at $396 a tonne on the world market, up 6.3% from August.

Changes in average export prices for Russian crude and oil prices on the world market:

Average actual export price World market price for Urals blend
$ per tonne % of December the previous year $ per tonne % of December the previous year
2016
January 230,3 82,0 209,9 78,9
February 210,6 75,0 223,0 83,9
March 241,3 85,9 266,7 100,3
April 258,8 92,2 289,3 108,8
May 290,0 103,3 326,0 122,6
June 309,6 110,3 339,4 127,6
July 311,3 110,9 318,1 119,6
August 308,7 109,9 320,5 120,5
September 312,3 111,2 322,5 121,3
October 326,6 116,3 350,4 131,8
November 326,4 116,2 320,3 120,5
December 339,1 120,8 380,2 143,0
2017
January 369,8 109,1 388,1 102,1
February 377,0 111,2 390,5 102,7
March 368,5 108,7 363,3 95,5
April 357,7 105,5 373,1 98,1
May 353,6 104,3 358,7 94,3
June 336,4 99,2 333,3 87,7
July 335,1 98,8 349,3 91,9
August 350,6 103,4 372,5 98,0
September 370,2 109,2 396,0 104,2

Source: Russian Economic Development Ministry

Russia produced 409.2 million tonnes of oil and gas condensate in 9M 2017, 0.5% more than in 9M 2016, and refined 211.8 million tonnes, up 0.5%.

Oil production by Russia and the leading oil exporting nations ('000 barrels per day):

2017
September August July
Russia * 10174 10608 10649
OPEC (total)** 32748 32659 32808
Of which: Iraq 4494 4462 4471
Saudi Arabia 9975 9975 10025

* - Not including gas condensate.

** - OPEC Market indicators as at end-September 2017