Russia’s refineries have started feeling the effect of a sharp fall in export sales of oil products in the wake of the country’s invasion of Ukraine. Rosneft’s 240,000 b/d Tuapse on the Black Sea halted crude uptake March 4 because it cannot ship its production, while the company’s 342,000 b/d Ryazan refinery in central Russia has reduced the volume it is accepting. While there are no sanctions on exports of Russian crude or refined oil products, limited access to credit for Russian-related deals and the fear of energy sanctions being imposed have resulted in typical buyers avoiding Russian cargoes where possible, sources said. Related story: Buyers shun Black Sea loadings of Kazakh CPC crude due to Russia-Ukraine conflict Thus, while Russian refineries have maintained normal processing rates, concerns have been rising that they would be forced to cut runs as storages become full on declining exports. Tuapse produces feedstock […]