POT’s H1 oil product exports rose, but in summer began to decline
Despite the COVID-19 pandemic, shipments of oil products from Russia grew in January-June thanks to the high efficiency of oil refining which enabled Russian refineries increase their capacity. But since capacities of Europe storage facilities have been full for two months and consumption is recovering slowly, and due to rising crude oil prices, Russian refineries began to cut production, the Petersburg Oil Terminal (POT) press office said.
In the first half of 2020, POT, in spite of challenging environment in the oil market, increased handling of oil products by 25% to 4.59 million tons. During the second quarter, oil exports via the terminal rose 23% year-on-year to 2.4 million tonnes. The share of POT in handling oil product exports through Greater Port of St. Petersburg in the first half was the same 79.8% as a year before.
In the first six month handling of light oil products rose by 24.1% as compared with H1 2019 to 1.76 million tonnes and of dark oil products — by 27% to 2.8 million tonnes. However, handling of jet fuel (ATF) dropped by nearly twofold to 162 000 tonnes due to complete cancellation of flights.
Petersburg Oil Terminal (POT), established in the Port of Saint Petersburg in 1995, is one of Russia’s terminals for transshipment of oil products in the Baltic Region. The facility is operated by one of the largest stevedoring companies of Greater Port of St. Petersburg.
POT receives oil products delivered by rail, inland and road transport and loads the products onto tank trucks, sea-going ships and bunkering vessels. The terminal area encompasses 37 hectares with 37 storage tanks for light and dark oil products. The facility's annual capacity is 10 million tonnes. In 2019, POT handled over 7.5 million tonnes of oil products.
