Overview
- Russneft delivered the first confirmed load of Russian crude to Georgia’s new Kulevi refinery, with tanker Kayseri carrying 105,340 tonnes of Siberian Light from Novorossiysk on October 6.
- Kulevi began operations this month with about 1.2 million tonnes a year of capacity and targets 4 million tonnes by 2028 as Georgia seeks to reduce reliance on fuel imports.
- Seaborne Russian crude exports averaged 3.82 million barrels per day over the four weeks to October 19, the highest since May 2023, Bloomberg’s tracking shows.
- In the latest week to October 19, exports averaged about 3.7 million barrels per day as 34 tankers loaded 25.88 million barrels, with weather limiting some loadings at Kozmino.
- Ship-tracking indicates sizable volumes lack declared destinations even as flows to China and India appear lower, while shipments to Turkey held near 310,000 barrels per day and to Syria slid to roughly 35,000.