MOSCOW, March 24 (Reuters) - Russia plans to cut
refinery runs in April, allowing the state to maintain crude oil
exports while sticking to previously announced output cuts, data
from industry sources and Reuters calculations showed on Friday.
Russia's offline primary oil refining capacity will rise by
425,000-455,000 barrels per day (bpd) in April compared to
February-March, close to the 500,000 bpd output cut indicted by
the state for the March to June period, the data and
calculations showed.
Russia's Deputy Prime Minister Alexander Novak said the
announced production cut would be from February's output level
of 10.2 million bpd.
Russia's oil exports from its western ports are expected to
rise in March from the previous month despite the production
cut, and will likely hold at a similar level next month thanks
to the lower refinery runs.
Offline primary oil refining capacity in April is seen
rising to 3.19 million tonnes from 1.49 million tonnes in March
and 1.23 million tonnes in February, according to the data and
calculations.
April and May are typical seasonal refinery maintenance
months in Russia, meaning the lower runs will not be a shock for
the local market, traders said.
Exports of Russian oil products have to date been more
affected by a recent EU embargo than crude, with tonnes of
diesel stuck on ships awaiting buyers.
China, India and Turkey have emerged as major buyers of
Russian crude.
(Editing by Kirsten Donovan)
