Tankers returned to the Baltic ports of Russia: Oil exports catch up

In the Baltic ports of Russia, which were massively attacked by drones of the Armed Forces of Ukraine, full-fledged oil exports are being restored. The tankers returned to Ust-Luga and Primorsk and actively receive parties.

Russia's largest oil ports in the Baltic Sea have resumed full-fledged shipments of oil and petroleum products after the drone attacks of the Armed Forces of Ukraine, which lasted several days. According to AIS vessels, there are three tankers on loading in Ust-Luga — two oil tankers and one for LPG transportation. In Primorsk, there are four tankers at the berths at once. They are loaded with both oil and petroleum products.

Several more tankers from anchorages are being sent to the ports for loading.

Over the past two weeks, the Ukrainian Armed Forces have attacked only Ust-Luga at least 10 times and the first tanker to load into the port got up on April 6. Today, Jewel, which can carry up to 115 thousand tons of oil, completes its passage past the shores of Estonia in the Baltic Sea and is heading to the Suez Canal.

According to Reuters, at least 40% of Russia's oil export capacity was suspended as a result of attacks by Ukrainian drones. The situation at the terminal in Novorossiysk, which the Ukrainian Armed Forces are also actively attacking, is still unknown.

The attacks are taking place amid a sharp rise in oil and gas prices due to the Iranian war.

"It is pointless to deny the risks here. There are hits and they affect shipment volumes. So far, the results of March in terms of volumes are encouraging, the increase in diesel fuel shipments is 22% higher than in February, but the attacks of the end of March will affect April deliveries," says Maxim Shaposhnikov, adviser to the Industrial Code Fund manager.

According to him, we must pay tribute to the Russian repairmen, who fix critical damage as quickly as possible.

"It remains to be hoped that the anti—drone and anti-missile defense of the ports will be strengthened, and the losses incurred will be compensated by a price that responds to supply constraints," the expert added.

Finam analyst Nikolai Dudchenko notes that it is too early to talk about export losses due to Ukrainian terrorist attacks and compensation for them with a higher oil price due to the Iranian war.

"In March, oil and gas revenues amounted to 617 billion rubles, and for three months of the year — 1.44 trillion rubles, which is significantly lower than the figures for the same period last year," the expert says.

According to him, the situation around the conflict in the Middle East contributes to an increase in Russian oil prices.

"Accordingly, we believe that to some extent the situation with oil and gas revenues may look better in the coming months. It is important for Russia to preserve, and, preferably, also to increase the volume of supplies, taking advantage of the "window of opportunity". As far as it will work out, it will become clear in the very near future," adds Nikolai Dudchenko.

As EADaily reported , due to the suspension of oil and gas exports from From the Persian Gulf through the Strait of Hormuz, the price of oil on the stock exchange rose to $ 110 per barrel, and physical supplies turned out to be even more expensive. So, Russian oil has been trading more expensive than $ 110 per barrel in recent days, while $ 59 per barrel is budgeted. And, obviously, the raw materials from Russia will be above $ 100 even during the two-week truce, which was announced in the United States and Iran.