March 18 (Reuters) – Russian gasoline flows to Europe stay steady, however Western sanctions over Moscow’s invasion of Ukraine and voluntary actions by patrons are beginning to impression its crude oil and oil product gross sales. learn extra
Whereas only some international locations, together with america, Canada and Australia, have imposed outright bans, some patrons in Europe are shunning Russian oil to keep away from reputational harm or attainable authorized troubles. learn extra
Some 2.5 million barrels per day (bpd) of Russian oil and merchandise could not discover their strategy to market starting in April, the Worldwide Power Company estimates. learn extra
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Russian officers, nonetheless, expressed hope that provides would stay steady, whereas oil exports and transit from the nation’s western ports and Druzhba pipeline have been anticipated to rise within the second quarter.
Following are actions introduced by international locations and main European vitality firms:
WHO IS STILL BUYING RUSSIAN OIL?
BULGARIA
Neftochim Burgas refinery, owned by Russia’s Lukoil (LKOH.MM), may use 100% non-Russian crude if want be, up from 40% at the moment, a authorities official mentioned.
CHINA
China is the second-largest Russian oil importer after the European Union, and the IEA says seaborne shipments may even enhance. Petro-Logistics, which displays oil manufacturing, is seeing extra Russian crude heading to China.
EUROPEAN UNION
The 27-member bloc, which depends on Russia for 40% of its gasoline and 27% of its crude imports, is break up over curbing Russian consumption however a plan to ditch Russian fossil fuels over the longer-term is predicted by the tip of Might. learn extra
FRANCE
Russian crude oil accounted for 9.5% of complete imports in 2021, however the French Affiliation of Petroleum Trade (Ufip) mentioned different provides may be discovered, including it’s already shifting away from Russian diesel.
GERMANY
Russian crude accounts for about 14% of consumption at Germany’s largest refinery, Miro. learn extra .
Germany’s PCK Schwedt refinery, 54% owned by Rosneft (ROSN.MM), is fed through the Druzhba pipeline, in addition to the landlocked Leuna refinery, majority-owned by TotalEnergies (TTEF.PA).
HELLENIC PETROLEUM (HEPr.AT)
Greece’s largest oil refiner mentioned Russian crude accounted for about 15% of its feed within the second half of 2021 however may be changed. It has already secured further provides from Saudi Arabia. learn extra
HINDUSTAN PETROLEUM (HPCL.NS),
India’s state refiner purchased 2 million barrels of Russian Urals for Might loading, in accordance with buying and selling sources. learn extra
INDIAN OIL (IOC.NS)
India’s high refiner purchased 3 million barrels of Urals for Might supply, commerce sources mentioned. learn extra
ISAB
Italy’s largest refinery, owned by Swiss-based Litasco SA, which is managed by Lukoil, was working as regular as of March 4. It processes varied crudes.
MOL (MOLB.BU)
The Hungarian oil group says it continues to be equipped by the Druzhba pipeline. Prime Minister Viktor Orban has repeatedly opposed sanctions on Russian oil and gasoline.
NETHERLANDS
Neither the Dutch authorities nor Rotterdam Port have banned Russian oil. Round 30% of the oil that goes via Rotterdam is Russian. Round 20 million tonnes of Russian oil merchandise undergo the port yearly.
PKN Orlen (PKN.WA)
Poland’s largest refiner has mentioned it’s shopping for Russian crude for its refineries in Poland, Lithuania and the Czech Republic, however was ready for “any state of affairs”, together with an entire suspension of Russian provide. learn extra
TURKEY
Turkey has no plans to cease shopping for Russian crude and associated merchandise. It opposes sanctions on Moscow. Tupras (TUPRS.IS) is the biggest refiner in Turkey.
WHO HAS STOPPED BUYING RUSSIAN OIL?
AMPOL (ALD.AX)
The Australian refiner says it has not purchased Russian crude oil or merchandise for the reason that battle began. learn extra
BP
The British oil main, which is abandoning its stake in Rosneft, won’t enter into new offers with Russian entities for loading at Russian ports, until “important for making certain safety of provides”. learn extra
BRITAIN
Britain mentioned it might part out imports of Russian oil by the tip of 2022. learn extra
CANADA
Canada has mentioned it would ban Russian crude imports, and can be trying into banning refined merchandise. It has not imported Russian crude oil since 2019, however in 2021 purchased naphtha, diesel and gasoline. learn extra
CEPSA
The Spanish agency owned by Abu Dhabi state fund Mubadala and personal fairness agency Carlyle, has stopped shopping for Russian crude, pure gasoline and oil merchandise and does not count on its place to vary within the foreseeable future.
ENI
The vitality group, 30.3% owned by the Italian authorities, is suspending purchases of Russian oil. learn extra No Russian crude shall be used at Germany’s Bayernoil refinery, which each Eni and Rosneft have stakes in. learn extra
EQUINOR (EQNR.OL)
Norway’s majority state-owned vitality agency has stopped buying and selling Russian oil because it winds down its operations within the nation. learn extra
GALP (GALP.LS)
The Portuguese oil and gasoline firm has suspended all new purchases of petroleum merchandise from Russia or Russian firms.
MAERSK
The Danish delivery group has stopped shopping for Russian oil for its vessels. learn extra
NESTE (NESTE.HE)
The Finnish refiner has Russian oil contracts lasting till the tip of the 12 months, however shouldn’t be making any new provide agreements. learn extra
OMV (OMVV.VI)
The Austrian oil and gasoline agency has mentioned it isn’t refining any Russian crude grades in its European refineries, and has no intention to take action within the “close to future”.
PREEM
Sweden’s largest refiner, owned by Saudi billionaire Mohammed Hussein al-Amoudi, has “paused” new orders of Russian crude, which accounted for round 7% of its purchases, changing it with North Sea barrels.
REPSOL (REP.MC)
The Spanish agency has stopped shopping for Russian crude oil within the spot market.
RWE (RWEG.DE)
The German utility mentioned it might cease new provide offers for Russian gasoline or oil.
SHELL (SHEL.L)
The world’s largest petroleum dealer will cease shopping for Russian crude and part out its involvement in all Russian hydrocarbons. learn extra
TOTALENERGIES
The French firm has stopped shopping for oil from Russia, though one in every of its landlocked refineries in Germany continues to obtain Russian crude by pipeline. learn extra
VARO ENERGY
The Swiss refiner, which owns the Cressier refinery in Switzerland and has a 51.4% share in Germany’s Bayernoil refinery, mentioned it had not entered into new Russian crude offers for the reason that invasion, and wasn’t planning to, whereas its earlier contracts had expired.
VIVA ENERGY (VEA.AX)
The refiner, which operates in Australia beneath the Shell model, has stopped shopping for Russian crude. learn extra
UNITED STATES
The USA, the world’s largest oil client, imposed a large ban on Russian oil and gasoline imports on March 8. learn extra
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Reporting by Reuters bureaux; Compiled by Nerijus Adomaitis and Shadia Nasralla; Modifying by Kirsten Donovan
