London—Russian fuel oil supplies remained buoyant through April as less efficient refineries ramped up runs, offsetting the impact of refinery conversion upgrades in the country, according to a study Tuesday. Large-scale refinery upgrades in Russia are intended to increase conversion rates at the expense of throughputs, but it crude runs remain high as many refineries initially expanded their primary distillation capacity. “Russian fuel oil exports were up year on year through April, despite the completion of a number of deep conversion units at refineries in the country, as inefficient plants ramped up runs,” UK-based consultancy Energy Aspects said.
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