Russia’s Oil and Gas Export Down

  • According to the RF Federal Customs Service, Russia’s crude oil export in January-April 2020 was down 2.6% year-on-year to 84.9 mn tons. In terms of value, crude oil export decreased by 23.8% year-on-year making over $30 bn.

    Oil products export declined by 3.3% down to 48 mn tons. In terms of value it was down 15.9% to $19.5 bn.

    Diesel fuel export made 18.1 mn tons in terms of tonnage, about the same as in January-April last year and $8.7 bn in terms of value (-14.1%). 

    Petrol export in January-April 2020 increased by 46.9% year-on-year up to 2.3 mn tons worth about $1.1 bn, up 31.9%.

    In April, Russia exported 21.8 mn tons of crude oil, up 5% year-on-year and down 0.3% month-on-month. In terms of value, crude oil export dropped by 55.8% year-on-year and by 39.5% month-on-month to make $4.4 bn.

    Oil products export in April decreased by 5.5% year-on-year and by 23.4% month-on-month to make 10.9 mn tons worth $3.2 bn (down 43.4% year-on-year and down 46.5% month-on-month).

    Diesel fuel export made 4.1 mn tons (up 6.3% year-on-year and down 27.6% month-on-month) worth $1.4 bn (down 35.9% year-on-year and down 47.4% month-on-month).

    Car petrol export in April declined by 0.9% year-on-year and by 50.8% month-on-month making 465.5 thousand tons worth $135.8 mn, down 44.4% year-on-year and down 70.6% month-on-month.

    Natural gas export in January-April 2020 amounted to 59.6 bn cbm, down 21.8% year-on-year. In terms of value, it also declined, by 51% down to $8.3 bn.

    Liquefied natural gas export during January-April 2020 decreased by 12.6% year-on-year up to 20.2 mn cbm, its value was down 34.1% to more than $2.4 bn.

    In April, natural gas export made 12.1 bn cbm, down 17.7% year-on-year and down 14.2% month-on-month. Value-wise, it was worth $1.3 bn, down 53.9% year-on-year and down 25.3% month-on-month.

    LNG export in April amounted to 3.5 mn cbm dropping by 69.3% year-on-year and growing by 16.7% month-on-month. In terms of value, LNG export declined by 65.7% year-on-year and increased by 26.9% month-on-month to make $581 mn.

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