Russian Diesel and Gasoil Shipments See Significant Boost in July

In the first half of July, shipments of Russian seaborne diesel and gasoil experienced a remarkable surge of 11%, according to data from Refinitiv Eikon. The spike in exports comes as a result of increased production following seasonal maintenance activities at the country’s refineries.

Over the initial 17 days of the month, approximately 1.9 million tons of fuel were exported, compared to the same period in June. Interestingly, two countries emerged as the top destinations for Russian fuel cargoes during this period, with Türkiye and Brazil collectively accounting for half of the total supplies. Türkiye received a substantial 631,000 tons, while Brazil received 300,000 tons, as reported by shipping data.

Among African buyers, Senegal and Morocco stood out as the primary recipients of diesel and gasoil from Russia in July, receiving 75,000 tons and 66,000 tons, respectively. However, exports to Togo and Ghana experienced a decline, with only 37,000 tons and 30,000 tons shipped to these countries.

An intriguing observation was made regarding 250,000 tons of Russian fuel with unknown destinations, which were tracked during ship-to-ship (STS) transfers near the Greek port of Kalamata and STS near Malta. According to traders, most of these unidentified cargoes are expected to find their way to Türkiye and other Middle Eastern countries.

In contrast, volumes of Russian diesel destined for the United Arab Emirates’ (UAE) trading hub in Fujairah remained unchanged from June, totaling 150,000 tons as of July 17.

Interestingly, no diesel cargoes were recorded to be heading from Russian ports to Saudi Arabia in July. The data showed only one cargo registered as sailing to Riyadh in June.

Adding to the uncertainty, another 250,000 tons of diesel and gasoil cargos, which were loaded at Russian ports since the beginning of July, are yet to confirm their destinations, leaving market analysts curious about their potential routes.

The surge in Russian seaborne diesel and gasoil shipments reflects the country’s increasing prominence in the global fuel market. With Türkiye and Brazil as the leading consumers of Russian fuel during this period, it signifies Russia’s growing presence in supplying energy resources to different regions worldwide. Market watchers will undoubtedly keep a keen eye on the developments in the coming months as Russia’s role in the oil and gas industry continues to evolve.