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China, India leading purchasers of Russian seaborne fuel oil, VGO in Feb, LSEG information programs

China and India stayed the leading destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in February, with both countries continuing to purchase the fuels to partially replace crude oil, traders stated and LSEG data showed.

Given That the European Union's full embargo on Russian oil items entered into effect in February 2023, the bulk of Russia's. fuel oil and VGO was rerouted to other regions, mostly Asia.

In February 2024, direct fuel oil and VGO deliveries from. Russian ports to India increased to 0.7 million metric lots. after 0.46 million tons in January, according to LSEG data and. computations.

February fuel products from the Russian ports to China. totalled 0.7 million heaps, to Singapore - 0.63 million tons, to. Malaysia - about 120,000 lots.

India and China purchase straight-run fuel oil and VGO for. refining, partly changing more pricey Urals barrels,. traders said.

Still, a huge part of Russian fuel oil and VGO went in. February for ship-to-ship (STS) loadings near the Greek port of. Kalamata - almost 0.7 million loads. Traders said those freights. mainly wind up in Asia.

Export deliveries of filthy oil items from the Russian. ports to Turkey fell in February to about 215,000 heaps from. 340,000 tons in the previous month.

Russia has likewise considerably increased its fuel exports to. Senegal this year on increasing bunker need, as more companies are. diverting freights around Africa instead of utilizing Red Sea routes,. traders stated and LSEG data showed.

In February, fuel oil shipments from the Russian port to. Senegal amounted to 187,300 tons.

In overall, Russian fuel oil and VGO seaborne exports. increased in February by 9% month-on-month to 3.76 million loads,. according to LSEG information.

(source: Reuters)