Fuel Oil Export of Russia: A Comprehensive Trade Analysis

Fuel oils are a group of liquid petroleum products that are basically extracted via the distillation process of crude oil. Several compositions, including light fuel oil, heavy fuel oil, and bunker fuels, are being traded globally due to their important role in power generation, industrial heating, and the marine and transportation sector. Russia Import Data says that the country in Eastern Europe and Northern Asia, alongside Georgia, Azerbaijan, and Kazakhstan, has emerged as a leading exporter of fuel oils in the international trade market.

The country has continuously been investing in the fuel oil trade because of its global energy demand and the huge maritime and transportation use. The large and growing demand for marine bunker fuels and the seasonal heating demand spikes in import countries, along with the large Russian crude output providing regular feedstocks for refineries, have been benefiting the overall trade. The liquidity in tanker markets and the Western sanctions have resulted in an export trade value of fuel oil worth 12 billion US dollars from Russia in 2024. The flexibility to use multiple export corridors and the severe investment made by the government authorities' import and operational experience have been benefiting the overall trade. Subscribe to Import Globals, the leading Russiaimport-export trade provider, for staying informed with the latest information regarding the fuel oils export of Russia via the Russia Trade Data.

THE GOVERNMENT PLANS SUPPORTING THE EXPORT OF FUEL OILS FROM RUSSIA

The zeroing of export duties on oil products by the government authorities has introduced the export of fuel oils and other petroleum products as a profitable resource for removing key costs. It has increased the incentives for refiners by producing more oil products. The removal of extra export duty for some petrochemical products has encouraged the domestic authorities to maintain or grow export volumes. 

The roadmap to support Russian fuel exports has prompted the authorities to secure export markets outside of sanctioned regimes. It has diversified the customer base while reducing the risk from carbs in Western markets. The measures to curb grey exports, along with the restoration of the damping mechanism, have improved the domestic supply stability while ensuring a proper maintenance of export incentives, reducing the political pressure while promoting the solidification of the global trade rank.

THE LEADING VARIANTS OF FUEL OIL EXPORTED FROM RUSSIA

Russia, to maintain compatibility with the growing global demands of fuel oil and to stay competitive amidst the global traders, has recorded its domestically produced diversities in the global supplies. According to the Russia Export Data, the top 10 leading variants of fuel oil exported from the nation in 2024 are,

  1. Low-Sulfur Fuel Oil (LSFO) - The annual valuation of Low-Sulfur Fuel Oil (LSFO) exported from Russia in 2024 - 3.21 billion US dollars 
  2. High-Sulfur Fuel Oil (HSFO)- The annual valuation of High-Sulfur Fuel Oil (HSFO) exported from Russia in 2024 - 2.87 billion US dollars 
  3. Marine Bunker Fuel (IFO 380)- The annual valuation of Marine Bunker Fuel (IFO 380) exported from Russia in 2024 - 1.76 billion US dollars 
  4. Residual Fuel Oil (RFO)- The annual valuation of Residual Fuel Oil (RFO) exported from Russia in 2024 - 1.42 billion US dollars 
  5. Heavy Fuel Oil (HFO 180)- The annual valuation of Heavy Fuel Oil (HFO 180) exported from Russia in 2024 - 1.08 billion US dollars 
  6. Straight-Run Fuel Oil- The annual valuation of Straight-Run Fuel Oil exported from Russia in 2024 - 1 billion US dollars 
  7. Vacuum Gas Oil (VGO)- The annual valuation of Vacuum Gas Oil (VGO) exported from Russia in 2024 - 987 million US dollars 
  8. Blended Fuel Oil- The annual valuation of Blended Fuel Oil exported from Russia in 2024 - 677 million US dollars 
  9. Furnace Oil- The annual valuation of Furnace Oil exported from Russia in 2024 - 589 million US dollars 
  10. Industrial Heating Oil- The annual valuation of Industrial Heating Oil exported from Russia in 2024 - 465 million US dollars 

TOP 10 EXPORT TRADE PARTNERS OF RUSSIA

Russia, via its thriving production activities and increasing government interest in the fuel oil trade, has maintained a stronger trade positioning amidst the growing competitors. As per the Russia Customs Data, the top 10 export trade partners of the nation for fuel oils exported in 2024 are,

  1. China - The total valuation of fuel oils exported from Russia to China in 2024 - 4.5 billion US dollars 

Top 5 variants of fuel oils exported 

  • Long-Residue Fuel Oil
  • Hydrocarbon Residue Fuel
  • Marine Export Grade LSFO
  • Marine Export Grade HSFO
  • Global Blend Fuel Oil
  1. India- The total valuation of fuel oils exported from Russia to India in 2024 - 3.24 billion US dollars 

Top 5 variants of fuel oils exported 

  • Marine LSFO Blend 0.1%
  • Marine LSFO Blend 0.25%
  • Power Utility Residual Fuel
  • Boiler Feed Fuel Oil
  • Refined Fuel Oil Blend
  1. Turkey- The total valuation of fuel oils exported from Russia to Turkey in 2024 - 2.98 billion US dollars 

Top 5 variants of fuel oils exported 

  • Asphaltic Fuel Oil
  • Deasphalted Residual Oil
  • Tar-like Heavy Fuel Oil
  • Residual Hydrocarbon Fuel
  • Heavy Crude Fraction Fuel
  1. United Arab Emirates- The total valuation of fuel oils exported from Russia to the United Arab Emirates in 2024 - 1.98 billion US dollars 

Top 5 variants of fuel oils exported 

  • Low Pour-Point Fuel Oil
  • High Flash Point Fuel Oil
  • Industrial Power Fuel Oil
  • Steam Turbine Fuel Oil
  • Lubricant Feedstock Oil
  1. Singapore- The total valuation of fuel oils exported from Russia to Singapore in 2024 - 1.29 billion US dollars 

Top 5 variants of fuel oils exported 

  • Oil Tanker Bunker Fuel
  • Offshore Platform Fuel Oil
  • Marine Propulsion Blend
  • Energy Plant Residue Fuel
  • Refinery Grade Residual Oil
  1. Saudi Arabia- The total valuation of fuel oils exported from Russia to Saudi Arabia in 2024 - 1.07 billion US dollars 

Top 5 variants of fuel oils exported 

  • Bunker Residual Fuel Oil
  • Marine Auxiliary Fuel
  • Generator Plant Fuel Oil
  • Engine Room Fuel Oil
  • Cargo Ship Bunker Fuel
  1. Malaysia- The total valuation of fuel oils exported from Russia to Malaysia in 2024 - 1 billion US dollars 

Top 5 variants of fuel oils exported 

  • Gas Turbine Backup Fuel
  • Diesel-Fuel Oil Mix
  • Residual-Distillate Blend Fuel
  • Crude-Derived Heavy Oil
  • Marine Residual LSFO 0.5%
  1. Brazil- The total valuation of fuel oils exported from Russia to Brazil in 2024 - 900 million US dollars 

Top 5 variants of fuel oils exported 

  • Refinery Feedstock Fuel Oil
  • Asphalt Production Feedstock
  • Petrochemical Residual Oil
  • Bitumen Residual Fuel
  • Combustion Plant Fuel Oil
  1. Egypt- The total valuation of fuel oils exported from Russia to Egypt in 2024 - 800 million US dollars 

Top 5 variants of fuel oils exported 

  • Industrial Furnace Oil
  • Steam Generation Fuel Oil
  • Process Heating Fuel
  • Kiln Heating Fuel
  • Smelting Furnace Fuel
  1. South Korea - The total valuation of fuel oils exported from Russia to South Korea in 2024 - 700 million US dollars 

Top 5 variants of fuel oils exported 

  • Marine Residual Blend
  • Ship Engine Residual Oil
  • Commercial Heating Oil
  • Light Industrial Fuel Oil
  • Domestic Heating Oil

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