• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 7 days e-truck insanity
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 7 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 10 days Bankruptcy in the Industry
Shell Considers Leaving London Stock Exchange

Shell Considers Leaving London Stock Exchange

Shell's CEO has expressed dissatisfaction…

Gasoline Production At Russian Refineries Drops To 15-Year Low

Gasoline production at Russia’s oil refineries slumped to the lowest level in 15 years in May as the country curtailed crude oil production as part of the OPEC+ deal and as lockdowns slashed demand for fuels, according to data from the Russian energy ministry and Reuters calculations.    

Russia’s volumes of primary oil processing dropped last month by 7.2 percent on a daily basis from April, while seasonal maintenance at some oil refineries also impacted crude processing and gasoline output volumes.

In May, Russia banned imports of refined oil products, including gasoline, diesel, and jet fuel, to protect its refining industry from cheap imports.

The ban, which will remain in effect until October 1, includes a ban on imports of gasoline, diesel, jet fuel, and gasoil, to ensure the energy security of the Russian federation and stabilize the domestic fuel market, the government said in a decree.  

Russia has been considering this measure since early April after oil prices crashed and led to much cheaper refined oil products outside Russia. In Russia, however, the price of fuels didn’t change much because of the nature of its regulations, Russian outlet RBC reported in April.

According to Russia’s independent fuel retailers’ association, demand for motor gasoline and diesel started to tick up in May from very low levels in April, which was the height of the lockdowns across Russia, the association told Russian business daily Vedomosti this week.

Although fuel demand is recovering, it is recovering very slowly, a representative of the association which does not include the vertically integrated oil firms in Russia, told Vedomosti.

The market shouldn’t expect a return of demand to pre-coronavirus levels in the next six months, according to the independent fuel retailers’ association.

ADVERTISEMENT

Meanwhile, Russia is showing an unprecedented commitment to the ongoing record collective production cuts by almost complying with its share of the reductions so far in June.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News