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La Jornada – Russia seeks new markets for its oil in Asia

La Jornada – Russia seeks new markets for its oil in Asia



La Jordana newspaper
Sunday, September 25, 2022, p. fifteen

Russia has increased its oil shipments to Asia since Europe broke sanctions on it for invading Ukraine, but it still has to divert more than a quarter of its crude exports out of the continent, or 1.3 million barrel per day, when a total embargo was imposed in December. . Russia exports about 20 million tons of crude oil per month, that is, about five million barrels per day (bpd), through various routes, including the Druzhba pipeline to Europe and others to the Asia. Moscow must find new buyers for that crude, which may require cheap prices and special conditions, while facing more expensive logistics to deliver it to more remote destinations, traders said.


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