Russian oil exports shift in November: Baltic surge counters southern collapse

Russian seaborne oil product exports dipped slightly in November, falling 0.8% from October to 7.494 million metric tons, according to industry data and Reuters calculations. 

This decrease occurred as the effects of drone attacks on key energy infrastructure were largely counterbalanced by the completion of maintenance work at several refineries.

Despite the small change in overall volumes, the amount of flow through specific ports fluctuated.

This variation was influenced by factors such as drone attacks and the renewed operation of several refineries.

Baltic ports fuel export surge

Fuel exports from Russian ports in the Baltic Sea–including key terminals such as Primorsk, Vysotsk, St. Petersburg, and Ust-Luga–experienced a significant surge, rising by an impressive 20.6% month over month. 

The total volume of fuel shipped from these crucial logistical hubs reached 4.697 million tons. 

This notable increase in export volume underscores the ongoing activity and strategic importance of the Baltic ports in Russia's energy trade, particularly in the context of global market dynamics and supply chain shifts. 

The data confirming this substantial rise was compiled and released based on information sourced directly from industry experts and shipping data providers. 

This upward trend suggests a heightened operational tempo at these ports, potentially in response to strong international demand or shifts in export routes and schedules.

The increase in shipments was primarily due to higher loadings from the ports of Primorsk and Ust-Luga, according to market sources quoted in the Reuters report.

Novatek's Ust-Luga complex restored

The Russian energy giant Novatek, whose stock is actively traded, successfully brought its vital gas condensate processing and transhipment complex in Ust-Luga back to full operational capacity last month. 

This restoration followed extensive repair work necessitated by damage sustained during a series of drone attacks in August. 

The facility, located on the Baltic Sea near the border with Estonia, is a cornerstone of Novatek's logistics chain, processing stable gas condensate into valuable petroleum products like jet fuel, naphtha, and gasoil for export to international markets.

The August attacks, which Novatek officially reported as having caused some localised damage to auxiliary equipment, temporarily disrupted operations, forcing the company to initiate immediate repairs. 

While Novatek is known for its resilience and robust operational procedures, the incident underscored the growing risk posed by drone warfare to critical energy infrastructure. 

The complex is now once again operating at maximum efficiency, ensuring the continuous flow of processed hydrocarbons from Russia's massive natural gas fields to world markets.

Drastic decline in southern route exports

In stark contrast, fuel exports via the southern routes saw a drastic decline.

Exports of oil products through Black Sea and Azov Sea ports decreased by 30.2% to 2.062 million tons.

This drop was attributed to damage caused by drone attacks, according to the data and calculations in the report.

Following drone attacks in November, Russia's Tuapse port on the Black Sea temporarily halted fuel exports, and its local oil refinery stopped crude processing. Oil product loadings resumed two weeks later.

In November, the Black Sea port of Novorossiysk also came under attack by drones.

Exports of oil products from the Arctic ports of Murmansk and Arkhangelsk increased by 80% in November, reaching 57,400 tons, up from 32,900 tons in October.

Loadings of fuel exports at Russia's Far East ports increased by 1.2% from October, reaching 677,800 tons, according to data from industry sources.