Аннотация: Export of black gold
What is oil export? This is the process of sending crude or refined oil outside the country of origin for sale on the world market, that is, this concept includes production, transportation, as well as its storage and insurance. Oil exports are a key element of the global economy, having a significant impact on various aspects of global trade and energy security. Let us consider in more detail this process and its impact on the development of manufacturing countries.
According to the Russian Ministry of Natural Resources and Environment, total oil production in the country in 2023 amounted to 523 million tons, of which 234.3 million tons were exported. The forecast for oil production in 2024 has been kept at the same level, of which 240 million tons are planned to be exported.
According to reports from the Central Petroleum Information Bureau (CIO) and Rosstat, in 2023 Russia ranked third in the world in terms of oil exports after the United States and Saudi Arabia, producing 9 million barrels daily.
According to the Russian Ministry of Economic Development, the main consumers of Russian oil are China, Germany, the Netherlands, Japan and other countries in Asia and Europe. The circle of buyer countries also includes EU countries, which account for approximately half of the supplies. Since 2017, China has been the largest buyer of Russian oil; in 2023, Russia's average daily revenues amounted to $178 million. Since the beginning of 2023, India has increased its imports of Russian oil almost 10-fold, and Turkey has become the only country to import more than $10 billion worth of domestic oil. Thus, Russia has become the undisputed leader in the volume of raw materials supplied to the East. For comparison: 140 million tons of oil and petroleum products were redirected to Asia for export, while only 80 million tons were left in the western direction. Freedom Finance Global analyst Vladimir Chernov for RG said: “In 2024, more than half of oil export volumes from Russia will go to China, about 15-30 percent to India, and the rest to European states and neighboring countries.” It is worth noting that most recently, in March 2024, Russia resumed oil supplies to Cuba. The first batch of Russian oil amounted to 715 thousand barrels.
Russian oil is delivered to foreign markets both through seaports and pipelines. According to statistics from the Federal Customs Service of Russia, more than 70% of all oil “travels” by sea. In July 2023, Russia will send oil to China via the Arctic, the so-called Northern Sea Route, which helps reduce voyage times by 30% and guarantees security of supply. And already in September of the same year, thin-hulled oil tankers were transported through the Arctic, even though such tankers were not reinforced to operate in more severe conditions, permission was still received to pass the route along the northern coast of Russia. Freight turnover continues to grow, so according to forecasts, by the end of 2024, navigation along the Northern Sea Route should become year-round. An important role is also played by the Druzhba oil pipeline, which is considered the world's largest system of oil trunk pipelines: 8.9 thousand kilometers, 3.9 of which are located in Russia. “Druzhba” was built in the 1960s to deliver oil to the countries of the socialist bloc. Now the owner of the Russian section is Transneft, and the control center is located in Bryansk. Currently, fuel from Russia arrives only towards Hungary and is supplied from Kazakhstan, other directions are closed.
It is also important to say something about traders. An oil and gas market trader is a specialist in the field of trading who is engaged in the purchase and sale of oil, gas and related products in international and domestic markets. Traders are actively involved in negotiating contracts and analyzing market trends. Now the following “kings of Russian oil” are identified:
• Litasco
It is a subsidiary of Lukoil and performs the functions of a trade organization for the export of oil and petroleum products of the Lukoil group of companies. According to data as of February 2024, Litasco operates 4 oil refineries in Russia, and also partially controls the Middle East and some areas of North Africa.
• Tejarinaft FZCO
In 2023, the company, registered in Dubai and previously unknown to anyone, became one of the largest suppliers of Russian oil from Rosneft to China, India and Turkey.
• Everest Energy
Another company that appeared in early 2024; supplies oil to Turkey.
• GMS Trading
The company, which appeared in 2023, is mainly engaged in the supply of oil from Black Sea ports.
• Petroruss
The company supplies oil to the Baltic region, as well as to India and China.
• Bellatrix Energy and Sunrise X Trading
Both companies appeared at about the same time, are registered in Hong Kong and specialize in supplies from “R” osneft"
An important role in ensuring financial stability is played by insurance of oil operations, which helps reduce the risks of possible losses for companies in the event of emergency situations. International Group is the most famous organization in the insurance industry. In April 2024, it stated that only 16% of Russian oil exports were insured, due to many economic and foreign trade reasons.