According to a report by news agency Reuters, the Russian government has instructed its fuel companies to get ready for the removal of all remaining restrictions on the export of petrol and diesel.
In an effort to combat high local prices and shortages, Russia, the top seaborne diesel exporter in the world, implemented a restriction on fuel exports on September 21.
On October 6, the government relaxed regulations, permitting the export of diesel via pipeline, while maintaining the ban on the export of petrol. It is also forbidden for trucks and railroads to transport petrol abroad.
On Wednesday, Russia’s Energy Minister Nikolai Shulginov announced that the country was thinking about removing the export prohibition on a few petrol types.
According to a second industry insider, the embargo will end the following week.
“They promised to lift the exports ban next week. In regards to this promise, we have formed an export schedule and a plan for refining” the insider, who also requested anonymity, stated.
With almost 35 million metric tonnes exported last year, diesel is Russia’s most important oil product. Roughly 75 percent of that was carried by pipeline. In 2022, Russia exported 4.8 million tonnes of petrol.
According to a second corporate source, the limits had led to the emergence of a petrol surplus. “It’s a low season now; we can’t sell so much on the domestic market,” he stated.
According to officials, the embargo will be removed as soon as the home market stabilises. Analysts had anticipated that once the most recent grain harvesting season was over, the limitations would be lifted.
As previously declared, Russia will maintain a voluntary supply reduction of 300,000 barrels per day from its exports of crude oil and petroleum products through the end of December, according to Deputy Prime Minister Alexander Novak’s statement on Sunday.
