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Russia April oil products exports down on high fee
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http://www.chemnet.com May 08,2008 Reuters |
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MOSCOW - Russian refined products exports fell in April following an increase in export duties and due to maintenance at a number of refineries, Energy Ministry data showed.
Russian oil companies exported 7,752 tonnes per day of gasoline in the first 29 days of April, down by 35.3 percent from 11,987 tonnes per day in March.
Exports of gas oil fell by 19.3 percent to 77,686 tonnes per day, while exports of fuel oil were down by 71.2 percent to 38,493 tonnes per day.
To see a table on Russian refined products sales in April click on [ID:nL06919423].
Russia set a record-high oil export duty for April-May of $241.1 per tonne of light products and $130.1 per tonne of heavy products, such as fuel oil. The oil export duty was increased by 1.9 percent to $340.1 per tonne.
Export duties, which are decided every two months by the Russian government, often prompt Russian oil firms to reshuffle their flows, refining more crude at home when duties rise and sending more abroad when they decline.
The ministry data showed earlier this month that Russian oil exports rose by 6.7 percent in April, month-on-month, to 4.52 million barrels per day, despite the higher export duty and lower oil output.
This was probably because a number of refineries, such as Surgut's Kirishi refinery and Rosneft's NovoKuibyshev plant and Moscow refinery, were expected to cut processing due to maintanance carried out last month.
Russian refinery runs data for April will be available next week.
For a diary of Russian, Ukrainian and Belarus oil refinery maintenance click on [REF/CIS].
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