In March, Russia experienced a decline in seaborne diesel and gasoil exports due to unplanned maintenance at its local refineries, as reported by LSEG and various market sources. The situation was exacerbated by drone attacks from January to February that targeted crucial refineries owned by Rosneft, including those in Ryazan, Syzran, and Saratov, as well as Lukoil’s Volgograd facility. The reduction in processing capabilities directly contributed to a downturn in oil product exports for the month. According to calculations by Reuters based on LSEG and market data, Russian seaborne diesel and gasoil exports dropped to approximately 3.8 million metric tons in March, which marks a 5% decrease from February.
Despite this overall decline, Turkey and Brazil emerged as the leading importers of Russian diesel and gasoil during the same period. Specifically, exports to Turkey saw an increase to 1.19 million tons, representing a 17% rise compared to February, while inbound shipments to Brazil rose by nearly 25% to 0.85 million tons. Conversely, Russian exports to African nations significantly decreased, halving to around 0.64 million tons. Key importers included Egypt, Morocco, Togo, and Tunisia.
Meanwhile, logistical activities such as ship-to-ship (STS) transfers near Limassol in Cyprus continued, with tankers carrying about 335,000 tons of Russian diesel bound for that location. Additionally, some vessels containing roughly 250,000 tons of diesel have an unspecified destination, indicated as “for orders,” leaving uncertainty regarding where these shipments will ultimately be unloaded.