OIL: Nayara Finds New Markets with Exports on Sanctioned Tankers This Month
Sep-26 11:07
Nayara Energy is exporting oil products to new markets and through sanctioned tankers this month following sanctions, Reuters said citing LSEG and Kpler shipping data.
- The company halted exports for about two weeks after EU sanctions on July 18 for dealing in Russian oil.
- Gasoline, gasoil and jet fuel exports fell from 138kb/dd in January-July to around 80kb/d in August and September, Kpler data showed.
- Its 400kb/d Vadinar refinery has been forced to cut crude runs to 70%-80% of capacity due to ship chartering and fuel sale challenges following the sanctions, Reuters sources said.
- Since the introduction of sanctions, most Nayara cargoes are bound for the Middle East, Turkey, Taiwan and Brazil, compared to previous sales to trading firms for export to Asia and northwest Europe.
- At least 16 cargoes of diesel, gasoline and jet fuel have been shipped on EU-sanctioned tankers from Vadinar port since the resumption of exports.
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