Shulga Aleksandrovich

Ministry of Energy: Russia reduces schedule for August as part of voluntary export reduction

Russia is reducing its oil export schedule as part of a voluntary reduction in supplies from Russia in August, the Russian Energy Ministry said.

The reduction will affect both pipeline and sea supplies, in particular, oil transportation for the third quarter of 2023 will be reduced by about 2.1 million tons.

"In accordance with the decision on the voluntary reduction of oil exports by the Russian Federation in August 2023 by 500,000 barrels per day, the schedule for oil transportation via main

pipelines outside Russia to shipment destinations for the third quarter of 2023 will be reduced in the amount of about 2.1 million tons, which corresponds to the designated level of export reduction for August," in the message in the Telegram channel of the Ministry of Energy.

"The decline in the export schedule will affect both shipments to Russian seaports (Novorossiysk, Primorsk, Ust-Luga) and pipeline deliveries," the ministry adds.