Russia’s Lukoil to boost oil exports by at least 300,000 tonnes in June

Lukoil news
Lukoil news

Russia’s top oil producer Lukoil will increase its crude exports by at least 300,000 tonnes in June due to cuts in production at its Norsi refinery, industry sources said on Tuesday.

It was not immediately clear why the plant was decreasing its production.

A Lukoil spokesman said Norsi would not cut output by this scale next month, and declined to comment on whether crude exports would increase.

Russia is to cut Urals crude exports in June from the Black Sea port of Novorossiisk to 1.86 million tonnes.

It will raise supplies from the Baltic Sea ports of Primorsk and Ust-Luga by 3.9 million tonnes and 2.1 million tonnes respectively next month.

Lukoil’s extra volumes would be on top of the planned export.