News // Russia
Russian To Boost Baltic Oil Loadings
01 November 2004 , 09:32561
Russia is likely to increase next month northern Baltic port loadings, expecting winter storms in the Black Sea and traffic in the Bosporus will restrain southern shipments.
The Baltic Sea port of Primorsk is going to report a record, handling 1.03 million barrels a day in November, which is 993,000 more than planned for this month.
At Novorossiisk on the Black Sea, exports are planned for 904,000 barrels a day next month, down from 928,000 this month, according to the port.
Russia has increased oil production this year as crude prices surged to a record, lifted by rising demand from China. Russian oil companies, including Lukoil, are investing to expand exports, which command higher prices than on the Russian market.
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