Russia to Increase Oil Shipments from Western Ports by 27% in December Following November Decline – Sources

MOSCOW, Dec 5 (Reuters) - Russia is set to enhance its oil exports and transit operations from western ports by 27% in December compared to November, driven by an accumulation of excess crude and significant carryover volumes from the previous month due to adverse weather and drone strikes, according to sources and calculations by Reuters.

Projections indicate that shipments of Urals, Siberian Light, and KEBCO grades through Primorsk, Ust-Luga, and Novorossiisk may reach approximately 2.44 million barrels per day (bpd) in December, a rise from the 1.92 million bpd exported in November.

Loadings of crude oil from Novorossiisk, including Urals, KEBCO, and Siberian Light grades, are anticipated to hit several-month peaks nearing 0.9 million bpd, while Primorsk and Ust-Luga are expected to collectively load around 1.6 million bpd of Urals and KEBCO grades.

In November, exports from Russia's western ports fell significantly short of the target of approximately 2.3 million bpd, with some shipments from last month now being loaded onto tankers in early December, industry insiders reported. Novorossiisk is managing around 0.7 million metric tons of crude from the November lifting schedule this December, they noted.

October's figures for exports and transit from Russia's western ports, which included some volumes carried over from September, were about 2.4 million bpd. The Black Sea port of Novorossiisk had to temporarily halt oil exports following a Ukrainian missile and drone attack on November 14 that damaged an oil depot and coastal facilities at the Sheskharis terminal.

Oil transport from Novorossiisk and the CPC marine terminal faced further interruptions on November 24 after another drone strike.

Sources indicated that Russia's western ports operated at near full capacity in September and October, with Novorossiisk's throughput in October reaching 0.85 million bpd, including volumes rolled over from September. (Reporting by Reuters; Editing by Kirsten Donovan)