MOSCOW: Russia plans to cut ESPO Blend crude oil exports from the Pacific port of Kozmino in February by approximately 450,000 tonnes to 2.25 million tonnes, market sources told Reuters on Wednesday. Loadings will be lower due to planned maintenance of the ESPO pipeline which may start in February and continue in March, traders said.
ESPO Blend preliminary loading plan from Kozmino is expected to be released by the end of the week Russia’s oil pipeline Transneft doesn’t comment on its maintenance plans. Rosneft is expected to load 900,000 tonnes including 200,000 tonnes under term agreement with China’s CNPC from Kozmino in February, Surgutneftegaz will load 600.000 tonnes of ESPO Blend, small producers – 500.000 tonnes, while Gazprom Neft and Lukoil will export 100.000 and 140.000 tonnes respectively, traders said.
Trading of February-loading ESPO Blend has started last week. Premiums for the grade rose compared to January’s loading volumes. ESPO Blend crude oil exports from Kozmino in January-March 2017 will fall by 9 percent on a daily basis to 7.3 million tonnes from 8.1 million tonnes in October-December 2016, quarterly export schedule obtained by Reuters showed.
