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Russian Crude Oil Export Down in January 2021

  • According to the RF Federal Customs Service, Russia’s crude oil export in January 2021 was down 19.9% year-on-year and down 12.4% month-on-month to 15.8 mn tons. In terms of value, crude oil export decreased by 36.7% year-on-year and by 3.1% month-on-month making slightly over $5.7 bn.

    Oil products export in January 2021 grew by 8.9% year-on-year, but declined by 17.2% month-on-month to make 12.3 mn tons worth $4.4 bn (down 16.9% year-on-year and down 5.4% month-on-month).

    Diesel fuel export made 4.1 mn tons (down 2.2% year-on-year and down 14.3% month-on-month) worth $1.6 bn (down 32.5% year-on-year and down 2.1% month-on-month).

    Car petrol export in January decreased by 28.2% year-on-year and by 2.5% month-on-month making 366.1 thousand tons worth $155.6 mn, down 46% year-on-year and up 7.2% month-on-month.

    Natural gas export in January 2021 made 20 bn cbm, up 9.3% year-on-year and up 1.5% month-on-month. Value-wise, it was worth $3.4 bn, up 12.4% year-on-year and up 9.9% month-on-month.

    LNG export in January amounted to 3.7 mn cbm dropped by 56.5% year-on-year, but grew by 19.4% month-on-month. In terms of value, LNG export declined by 68.3% year-on-year and increased by 2.2% month-on-month making $270.2 mn.

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