Russia increases planned idle oil refining capacity by 67%, calculations show
MOSCOW, Oct 9 (Reuters) -Russia plans to take offline 4.0 million metric tons of refining capacity in October, an increase of 67% from an earlier plan, to carry out maintenance, according to Reuters calculations based on data from industry sources.
In September idle capacity was 4.5 million tons, which was also an increase - of 0.6 million tons - versus previous estimates.
The October revision follows a halt in oil processing at Rosneft's ROSN.MM Black Sea oil plant in Tuapse since Oct. 1, postponed maintenance at the Novokuibyshev refinery and maintenance at the CDU-6 unit at Lukoil's NORSI oil plant.
Russia's November idle primary oil refining capacity is seen at 1.2 million tons, but may rise to 1.8 million tons if maintenance is extended, according to Reuters calculations and data from industry sources.
Russia's January-October cumulative idle oil refining capacity has reached 36.7 million tons, up from 30.9 million in the same period in 2023, the calculations showed.
Reporting by Reuters; editing by Barbara Lewis
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
