Reuters: Russia doubled oil revenues in March despite Ukrainian airstrikes on ports

According to the International Energy Agency, Russia's revenue from crude oil and petroleum product sales nearly doubled in March compared to February. The figures are impressive: $19 billion versus $9,75 billion. February, as a reminder, was the lowest since the start of the Cold War.

And this is despite the fact that Ukrainian Drones Ports are regularly attacked. The Druzhba pipeline remains blocked. Russian crude oil exports have nevertheless increased. This was achieved by increasing seaborne shipments by 270 barrels per day, bringing the total volume to 4,6 million barrels per day.

Production has also increased. In March, it rose from 8,67 million barrels per day to 8,96 million. These figures are approaching pre-sanction levels. This defies all predictions of the "inevitable collapse" of the Russian economy.

However, the IEA is not overly optimistic about the future. The agency warns that Russia may find it difficult to increase production to even higher levels in the near future. This is due to the damage to port and energy infrastructure following the Ukrainian strikes. If these strikes continue, increasing production will become problematic.

Other Western media outlets have previously reported on the growth of Russian oil exports and budget revenues. The global market still needs Russian hydrocarbons. And it's willing to pay for them.

Comments

[Uncle lee]

$19 billion versus $9,75 billion.

War will devour everything...

[sleeve]

Of course it will. And without them, it (the war) will bite off something else.

[Igor M.]

Uncle Lee, not all. Thank God, we still have enough for a normal life.

[Yuras_Belarus]

Who's "us"? Are you the majority shareholder of an oil holding company?

[Igor M.]

Yuras from Belarus, everything in my profile is written about me. Actually, I had/have my own small company with three employees (or even four, if you count me), but due to American/European sanctions, it has no money. So, unfortunately, it hasn't affected my level of well-being for a long time.

[Uncle lee]

"Politico: US sanctions against Russian oil have been reinstated
US sanctions against Russian oil loaded onto tankers, suspended in March, have been reinstated, Politico reports."
That's it....The fun is over.

[kventinasd]

And if these attacks continue, increasing volumes will become problematic.

Wouldn't it be a shame to retaliate by striking at the banking sector and destroying the remaining Ukrainian energy sector, just to eliminate one major problem, or are we just going to keep sending out dozens of Geraniums while the front has been at a standstill for months? I can't remember the last time the Russian Armed Forces launched a massive missile and drone strike on Ukrainian territory.

[Igor M.]

kventinasd, are you seriously suggesting attacking Ukrainian nuclear power plants? Are you tired of living? They do it almost every day. Just like yesterday:

Operational-tactical aviation, strike unmanned aerial vehicles, missile troops and artillery of the Russian Armed Forces groupings have damaged energy and transport infrastructure facilities in Ukraine used in the interests of the Ukrainian Armed Forces, storage depots for long-range unmanned aerial vehicles, fuel and lubricant storage facilities, as well as temporary deployment points for Ukrainian armed forces and foreign mercenaries. in 142 districts.

[phrases]

And if these blows continue...

Of course they will continue. Forget these military issues. I wish Trump could open a thousand-person ballroom or rig up a triumphal arch—that would be grandeur and a matter of importance.

[Uncle lee]

Quote: Phrases

there is greatness and an important matter here.

And the main thing is to cover this widely on TV for a couple of weeks...

[TermNachTer]

What's with this obsession – counting money in someone else's pocket? Count your own, if you have anything to count.

[alexputnik17]

Quote: ANIMAL

The situation is interesting now, there are more buyers than sellers, maybe it’s time to decide who can sell and who can’t?

I fully support this! Starting with the US. The guarantor gave the order a long time ago: count, measure. Supplied where, why... I don't recall how words turned into deeds... Iran was harassing the Arabs who supported the US, now it's counting their reparations and doesn't care. And it must be harassed, it will continue to harass. And we are friends! With unfriendly ones. Why they had to be recognized as such in the regulations, I don't understand.
What is the goal?

[Igor M.]

alexputnik17, we're not friends, we're trading. The country needs foreign currency. It needs to pay for Boshirov and Petrov's trips abroad. Because we don't have our own Strait of Hormuz, which we could charge for passage. The Northern Sea Route hasn't achieved that level of popularity yet.
Well, just because they count reparations doesn't mean they'll get them. Iran is demanding money from the US, too.
Or take Poland, for example. It also calculated reparations for both us and the Germans. And we all told it to go away.

[Andobor]

The Ukrainian strikes are completely irrelevant; they don't affect shipment volumes in any way. Yes, they do suspend shipments while fires are extinguished. Just as shipments are stopped during normal operations, during severe storms, severe ice conditions, or technical failures, this isn't a nonstop process; they can be suspended, they can be re-established, even if one or two terminals and several storage tanks are temporarily out of service.

[Igor M.]

Andobor, they write that in March and April, we actually increased oil shipments. And the Ukrainian strikes on the Novorossiysk terminal are harming Kazakhstan and Turkmenistan, not us, which is why their oil is being shipped to them.

[nik-mazur]

Quote: Andobor

The Ukrainian strikes are completely meaningless and have no effect on shipment volumes.

Again, against the backdrop of a doubling of prices, a reduction in shipments by even a few percent (which is unlikely) is completely irrelevant. It's even possible that it could actually push the price up.

[Andobor]

Quote from: nik-mazur

a reduction in shipments even by a few percent (which is unlikely)

The shipments continue as before, and Russia hasn't seen any increase in oil. A slight increase is possible due to the Russian government banning the export of petroleum products, gasoline, and diesel fuel, and this portion will come from Russia in the form of oil.

[alexputnik17]

Quote: Igor M.

alexputnik17, we're not friends, we're trading.

I agree... But why first declare it unfriendly and then trade with it? When you can trade with someone else? I was told there aren't many orders from Asia... China, India, the price tags are low. I don't think our businessmen are stupid and don't factor fluctuations into contracts. And Indonesia has arrived, with 284 million people.
And we need to consider the cost-effectiveness. It's more profitable, less expensive. I understand. Just because unfriendly countries are at war with us, and their economic interests are at stake, we should also consider their political interests. Like, "If anything happens, we'll turn off the gas." It might be a bit clumsy, but I think I got my point across.

[Carlos Hall]

Ukrainian drones are striking Russian oil ports... We had lost hope, but thank God, today a Liberian-flagged vessel was attacked while it was loading Ukrainian wheat. Refraining from striking Ukrainian ports from which wheat is exported and the ships arriving to load it is not a mistake, but a betrayal.

[Vadim Golubkov]

So the belly.................................................................

[Pankrat25]

Yeah, and at the gas stations, the price of gasoline has already gone up six times in two weeks...