Where will Russian oil go if Europe abandons it?
Oil is one of the key natural resources of Russia exported abroad. Traditionally, the countries of Western and Eastern Europe are among the main buyers of Russian oil. Their dependence on the supply of “black gold” from Russia remains today, but the volume of Russian oil exports to the west is gradually declining. So, from the beginning of 2018, the volume of oil supplies from Russia to Europe decreased by 10% compared to the same period in 2017.
Oil goes to Europe mainly through the famous Druzhba pipeline. Its northern section goes through Belarus and further to Poland and Germany, and its southern through Ukraine and further to the Czech Republic, Slovakia, Hungary, and Croatia. In 2018, 3% less oil passed through Druzhba than last year. Exports through the country's largest ports, Novorossiysk and Primorsk, also declined. What are the reasons for such large-scale changes in the export of Russian oil?
It is no secret that Russia is rapidly reorienting itself to the east. The European Union at one time made its own choice, embarking on a path of confrontation with the Russian state, supporting a coup in Ukraine and introducing anti-Russian sanctions. But reorienting oil exports is not a solution political (although related to political processes), and economic. China is increasingly playing the role of buyer of Russian oil.
Compared to the western direction, the eastward export of oil is only growing. This also applies to ESPO pipelines in the Far East, Atasu-Alashankou in Kazakhstan and Skovorodino-Mohe. Moreover, the growth rate is very rapid - 30% compared with last year. Rosneft, the largest oil exporter, signed a contract with the Chinese CEFC, according to which in 2018 Russia was supposed to supply at least 40 million tons of oil to the Celestial Empire. Then this figure was increased to 50 million tons. The monthly volume of oil supplies to China in January 2018 also increased to 5,67 million tons.
China is a very attractive market for world oil exporters. Demand for oil in China is only growing, which is understandable, given the high pace of development of the Chinese economy. Experts say that until 2040, China, together with India, will provide half of the increase in world oil demand. Last year, China led the list of countries - the largest importers of oil, this trend will continue in the foreseeable future. Therefore, Russia does not want to cede the Chinese market to competitors. The launch of the Eastern Siberia – Pacific Ocean pipeline has allowed a large-scale increase in the supply of “black gold” to the Celestial Empire.
For Moscow, oil supplies to China at this stage are much more attractive than to Europe. Moreover, the demand for Russian oil in the EU countries is declining. So, interest in Russian oil in Hungary is gradually declining, which has found ways to replace Russian oil with cheaper options. However, it is unlikely that Eastern and Central Europe, even on a large scale, will refuse to import Russian oil. Products supplied from Russia are of high quality, and floating prices for various grades of oil do not allow us to give preference to any particular supplier.
Oil goes to Europe mainly through the famous Druzhba pipeline. Its northern section goes through Belarus and further to Poland and Germany, and its southern through Ukraine and further to the Czech Republic, Slovakia, Hungary, and Croatia. In 2018, 3% less oil passed through Druzhba than last year. Exports through the country's largest ports, Novorossiysk and Primorsk, also declined. What are the reasons for such large-scale changes in the export of Russian oil?
It is no secret that Russia is rapidly reorienting itself to the east. The European Union at one time made its own choice, embarking on a path of confrontation with the Russian state, supporting a coup in Ukraine and introducing anti-Russian sanctions. But reorienting oil exports is not a solution political (although related to political processes), and economic. China is increasingly playing the role of buyer of Russian oil.
Compared to the western direction, the eastward export of oil is only growing. This also applies to ESPO pipelines in the Far East, Atasu-Alashankou in Kazakhstan and Skovorodino-Mohe. Moreover, the growth rate is very rapid - 30% compared with last year. Rosneft, the largest oil exporter, signed a contract with the Chinese CEFC, according to which in 2018 Russia was supposed to supply at least 40 million tons of oil to the Celestial Empire. Then this figure was increased to 50 million tons. The monthly volume of oil supplies to China in January 2018 also increased to 5,67 million tons.
China is a very attractive market for world oil exporters. Demand for oil in China is only growing, which is understandable, given the high pace of development of the Chinese economy. Experts say that until 2040, China, together with India, will provide half of the increase in world oil demand. Last year, China led the list of countries - the largest importers of oil, this trend will continue in the foreseeable future. Therefore, Russia does not want to cede the Chinese market to competitors. The launch of the Eastern Siberia – Pacific Ocean pipeline has allowed a large-scale increase in the supply of “black gold” to the Celestial Empire.
For Moscow, oil supplies to China at this stage are much more attractive than to Europe. Moreover, the demand for Russian oil in the EU countries is declining. So, interest in Russian oil in Hungary is gradually declining, which has found ways to replace Russian oil with cheaper options. However, it is unlikely that Eastern and Central Europe, even on a large scale, will refuse to import Russian oil. Products supplied from Russia are of high quality, and floating prices for various grades of oil do not allow us to give preference to any particular supplier.
- P P 'SЊSЏ RџRѕR "RѕRЅSЃRєRёR№
- http://ktovkurse.com/
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