15% Drop in Oil Exports from Western Russian Ports

Oil shipments from Russia's western ports have fallen to about 2.3 million barrels per day during the first half of August, 15% below the initial loading plan, due to disruptions at the Port of Novorossiysk in the Black Sea.

The decline reflects the growing challenge Moscow faces in maintaining its crude exports, as Ukraine attacks Russian energy infrastructure, vital for supply and budget revenues.

Initially, exports from the Baltic ports of Primorsk and Ust-Luga, along with the Novorossiysk port facility, were projected to reach around 2.7 million barrels per day in August.

According to operators, oil exports from Novorossiysk - which include Russian Urals crude and the Kazakh Kebco variety - have fallen to about 0.4 million barrels per day, compared to the 0.8 to 1 million barrels per day recorded in June and July.

Shipments are more than two weeks behind schedule, they added, as cargoes scheduled to depart in late July have only sailed in recent days.

As the risk of attacks on Russian shipments in the Black Sea has increased, Russia has redirected crude oil exports from Kazakhstan from the Baltic port of Ust-Luga to Novorossiysk.

The goal is to free up capacity for a larger volume of Russian oil exports from the Baltic, as Kazakh crude transit shipments are expected to remain safe in the Black Sea, given Ukraine's promise not to attack non-Russian origin cargoes.