Russia began selling oil to a number of new buyers
Moscow, according to the Deputy Prime Minister, expects oil growth in May compared to the previous
Russia began to sell oil to a number of new buyers, the demand for oil grew in Russian directions, including in the countries of the Asia-Pacific region. This was announced to journalists by Deputy Prime Minister of Russia Alexander Novak, reports TASS.
“Of course, they (Russian oil companies) are looking for new directions in a new situation, they are building new logistics chains. We see, of course, that there are new buyers, including the increase in volumes [экспорта нефти] suppliers to other destinations, including the Asia-Pacific region,” he said.
At the same time, Novak did not name specific buyers.
According to the Deputy Prime Minister, Russia is also considering a number of new infrastructure projects to diversify oil extraction. According to him, the expansion of the ESPO (Eastern Siberia-Pacific Ocean) pipeline in China is one of the options, as is the construction of new port facilities. A working group has been set up to discuss the issues.
Also, the Deputy Prime Minister noted that the degree of partial recovery of oil production in May after its decline in the first case. The situation, according to the data for the first days of May, has already stabilized, Novak said.
“If you look at the indicators of the beginning of May, they are better than April. The situation is stable. Production has increased compared to the previous one. We expect that the indicators in May will be partially restored and will be better,” the Deputy Prime Minister noted.
Earlier, Kommersant wrote that oil production in Russia over the 26 days of April was observed by almost 9% compared to March. In early April, Novak assumed that the decline could be 4-5% due to a change in logistics and possible problems with insurance and the use of ships, reminders RBC.