MOSCOW (MRC) -- Russian ultra-low-sulphur diesel (ULSD) diesel shipments to Brazil hit a record high in February, while Moscow is exploring new markets following the European Union ban, according to traders and Refinitiv data, said Hydrocarbonprocessing.
A full EU embargo on Russian oil products went into effect on Feb. 5, and Africa, Asia and ship-to ship (STS) loadings took market share of Russian diesel buyers instead of Europe. According to Refinitiv, at least four cargoes carrying 140,000 tonnes of diesel were loaded in the Russian Baltic port of Primorsk in February and were now heading to Brazil.
Two more cargoes were loaded with 60,000 tonnes of diesel in the Russian Baltic port of Vysotsk and discharged in Brazilian ports. In January, export diesel supplies from Russia to Brazil totaled about 96,000 tonnes, according to Refinitiv data.
Brazil is looking to buy as much diesel as it can from Russia, Brazilian Foreign Minister Carlos Franca said last year.
We remind, Shell said it completed withdrawal from its interest in Salym Petroleum Development in Russia on 3 March. Shell Salym Development BV - a subsidiary of Shell plc - completed the withdrawal from its 50% interest in the Salym project, which had been jointly developed with Gazprom Neft, a subsidiary of Gazprom. This follows the receipt of all necessary regulatory approvals.