Naphtha exports rise

摘要

Products exports from the FSU rose last year as higher naphtha shipments more than ofset lower fuel oil exports. Naphtha shipments were up by more than 6pc year on year to around 545,000 b/d (see table). Exports of Russian naphtha were widely expected to decline in 2017, given the country’s eforts to boost production of higher-value gasoline for the domestic and international markets. But the completion of refinery upgrades - which will boost the country’s catalytic reforming and naphtha hydrotreatment capacity - has taken longer than expected, capping domestic refinery demand.