FSU crude exports hit 157mn t (6.44mn b/d) in January-June, down by 0.45pc on the first half of last year, reflecting higher demand from Russia’s refineries. Pipeline exports from Russia to non-CIS destinations fell by 3.2pc to 4.1mn b/d reflecting increased domestic consumption. But this was partially offset by growing exports from Lukoil’s far north Varandey terminal, exports of Kazakh crude to China and rail shipments through Taman on the Azov Sea. Exports of ESPO Blend also continued to rise — at the expense of westbound flows, a trend that is likely to continue.
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