Russia's seaborne exports of oil products may fall 10% in February

Tatneft Imeni V.D. Shashina PAO

20/02/2026 11:51

MOSCOW, Feb 20 (Reuters) -
Russia's seaborne export of oil products is expected to fall 10% in February from the prior month as unplanned refinery outages and harsh weather conditions at key ports slow fuel loadings, data from market sources and LSEG showed.

In January, exports of oil products from the Russian ports totalled 9.12 million metric tons, according to the data from industry sources and Reuters calculations.

A series of drone attacks has disrupted operations at several Russian refineries, including Lukoil-owned LKOH.MM Volgograd and Ukhta refineries, as well as privately owned Ilsky and Afipsky refineries, while damaging infrastructure at the Russian Black Sea port of Taman.

Storms and severe ice conditions in the Baltic Sea have also posed numerous challenges.

Unlike the two previous mild winters, this time port authorities have not allowed non-ice-class tankers to access Russian Baltic ports.

The combination of shallow depth, low water salinity and prevailing easterly winds has accelerated ice formation, with thickness reaching 25-30 centimetres.

Since mid-February, non-ice-class tankers have been barred from entering Primorsk, Ust‑Luga, Vysotsk and Saint Petersburg, while Ice1 and Ice2 vessels have been allowed with icebreaker escort.

Short‑term forecasts expect ice thickness to increase to about 45 centimetres by early March, which would require Ice3-class tankers for loading oil and petroleum products in the Baltic.

Meanwhile, oil products stocks are building up in ports and refineries storage tanks are scheduled for shipment in March, which could trigger a spike in fuel exports if weather conditions improved, market sources said.

        Traders are also expecting the completion of unplanned maintenance at some refineries, including Tuapse oil refinery, which halted oil processing after a drone attack on December 31.

 (Reporting by Reuters in Moscow; Editing by Anil D'Silva)