Nefte Transport
Transcription
Nefte Transport
Nefte Transport M O N T H L Y oil transportation logistics in the former Soviet Union VOLUME XIII, 7, July 2014 Major Ust-Luga works planned Work to enable the Baltic port to reach its full capacity could disrupt naphtha loadings in the short term Exports of naphtha from Russia’s Baltic port of Ust-Luga could fall during July-August, while work to reinforce the seabed is carried out near berth 2 at the products terminal owned by trading firm Gunvor. In an attempt to minimise any disruption and keep naphtha loadings on schedule, Gunvor is planning to step up loadings at berths 2 and 3 and to allow cargo documentation to be processed after tankers depart, according to a source at Ust-Luga. The reinforcement work at berth 2 is expected to take six weeks, before contractors turn their attention to the seabed at berths 2 and 3. Work on the seabed at all three of the berths is supposed to be completed by the end of this year and should allow the terminal to operate at its full design capacity of 30mn t/yr. But companies that load products at Gunvor’s terminal are worried that the timetable could slip and are considering alternative export options — primarily the Latvian port of Ventspils, but also Russia’s far north port of Arkhangelsk and another Russian Baltic port, Vysotsk. The Gunvor terminal loaded 1.46mn t of naphtha produced in Russia during the first half of this year, receiving product from Rosneft’s Nizhnevartovsk, Saratov and Zaikinsky refineries, Gazprom’s Surgut and Urengoi condensate stabilisation plants, the Taif Nizhnekamsk plant and Tatneft’s Taneko plant at Nizhnekamsk, Gazpromneft’s Omsk refinery and the Yaroslavl refinery, which is co-owned by Rosneft and Gazpromneft. Bashneft’s Novoil refinery — one of the three plants that make up the Ufa complex — started shipping naph- © Argus Media Ltd tha to the Gunvor terminal during May, with the first tanker loadings taking place last month. Naphtha is also exported at UstLuga from terminals owned by petrochemicals producer Sibur and Russia’s leading independent gas producer Novatek. The Novatek terminal exported 1.5mn t of naphtha during the first half of this year. And Sibur’s outlet exported 1.17mn t in JanuaryJune, with product supplied from its own plants, as well as from Lukoil’s Nizhny Novgorod and Perm refineries, Gazprom’s Salavat refinery, and the Antipinsky refinery. Not only naphtha Late last month, the Sibur terminal loaded a cargo of 10ppm sulphur diesel produced by Surgutneftegaz’s Kirishi refinery — the first cargo of this grade to be exported from the outlet (NT, May, p3). The Gunvor terminal loaded a trial cargo of Kirishi diesel during May last year. Approximately 12,000t of 10ppm diesel produced at the Kirishi refinery arrived by rail at Ust-Luga on 1-10 June. The first 10,000t seaborne cargo sailed from Sibur’s terminal on the 13,700t Stenstraum on 28 June, according to shipping agents. The product was purchased by trading company IPP, which market participants say is associated with the Gunvor group. Surgutneftegaz says it is planning to continue exporting 10ppm produced at Kirishi through Ust-Luga, but in smaller volumes. The refinery is expected to supply 15,000-20,000t of the product to the port this month, traders say. I n s i d e Kazakh crude for Kozmino 2 Gasoil diverted to Arkhangelsk 2 First Murmansk halts exports 3 Tariff rises to pay for upgrades 4 Transneft eyes Z-P capacity cut 4 First Ryazan fuel oil for Novo 5 Trans-Caspian costs rise for Kazakhs 5 Yaisky to cut product exports 6 Mari-El to resume product exports 6 Sour times for Urals 7 LPG tankcar deal derailed 7 Far east rail expansion on track 8 New ride for old cars 9 Q&A: Railtransholding owner 11 River terminal survey 12-15 FSU crude exports 21-22 Pipeline crude exports, Jun 23-25 Rail data 26-32 River shipments 33-34 Pipeline tariffs 35 Prices/rail tariffs 36 Export costs 37 Russian pipeline exports Russian pipelinecrude crude exportsmn mnb/db/d 5 Russian crude Transit crude 4 3 2 1 0 Apr 13 Jul Oct Jan 14 FSU crude exports exports FSU crude Apr mn b/d mn b/d 7.0 6.5 6.0 5.5 5.0 Apr 13 Jul Oct Jan 14 Apr www.argusmedia.com Argus Nefte Transport — News Argus Nefte Transport is published by Argus Media Ltd London (head office): Argus House, 175 St John St, London EC1V 4LW Tel: +44 20 7780 4200 Fax: +44 870 868 4338 email: neftet@argusmedia.com email: sales@argusmedia.com Moscow office: 17-23 Taganskaya ul., Moscow, Russia 109147. 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Published monthly Copyright © 2014 Argus Media Ltd All rights reserved Notice: By reading this publication you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices or any other individual items of data) in any form or for any purpose whatsoever without the prior written consent of the publisher. July 2014 Kazakh crude for Kozmino ESPO Blend exports from Russia’s far east port of Kozmino could exceed 24.5mn t (490,000 b/d) this year, up from the original estimate of 23.5mn t, thanks to a third-quarter loadings boost. Russian firms could up deliveries as early as next month, thanks to the addition of Kazakh oil to export flows. Kazakhstan was expected to make a final decision this month on whether to supply extra crude to Russia as part of a deal covering export duty-exempt Russian product deliveries. Russia’s energy ministry lifted its Kozmino allocation by 300,000 t/month in the third quarter. Rosneft can load an extra 106,000 t/month, Lukoil 91,000 t/ month, Gazpromneft 71,000 t/month, Russneft 17,000 t/month and Surgutneftegaz 15,000 t/month. Traders expect the extra Kazakh crude to come from Kazmunaigaz and to be sold on a daf Bolshaya Chernigovka basis, for onward delivery to Kozmino. Kazakhstan has been trying for years to renegotiate a deal on duty-free Russian product imports. Kazakh firms are supposed to provide 1.45mn t of crude to offset Moscow’s revenue losses from the export duty-exempt supplies. Russian companies have lobbied the government to be able to export Kazakh oil as ESPO Blend, as Kozmino is the country’s most profitable crude outlet. Transneft has refused because it wants to keep lighter, low-sulphur crude in the Urals export stream. But the overall volume of lighter, low-sulphur crude in the system rose in July after a fire at Rosneft’s 130,000 b/d Achinsk refinery, now due back on stream in August. Kazakhstan will have to divert crude from other routes in order to ship more to the ESPO stream. Shipments to UstLuga and Novorossiysk, as well as through the Caspian Pipeline Consortium’s system are likely to be reduced. Rosneft and Gazpromneft will each load an extra ESPO Blend cargo in August. Surgutneftegaz and Russneft will not use their extra allocations as they do not have enough crude to make up a cargo. Lukoil was offered an extra position, on 8-9 August, but declined to make use of it because the firm does not expect to be able to sell at an acceptable price. ESPO Blend is usually sold six to eight weeks before shipment. Gasoil diverted to Arkhangelsk Arkhangelsk received its first 350ppm gasoil from Rosneft’s 90,000 b/d Nizhnevartovsk and 5,600 b/d Krasnoleninsky refineries in June, traders say. The product, diverted from the Latvian port of Ventspils, was loaded under a longterm contract with Vitol. Rosneft, with a terminal at Arkhangelsk, delivered 50,000t in June and expects to keep loadings at this level. Last month, the terminal loaded highsulphur gasoil from the 160,000 b/d Taif refinery at Nizhnekamsk and Yenisei’s 26,000 b/d Usinsk plant, its only high- sulphur gasoil suppliers since April. Arkhangelsk gasoil loadings have been falling this year after the 150,000 b/d Antipinsky plant halted supplies. Antipinsky shipped an average of 42,000 t/month to Arkhangelsk last year. The Taif plant, Lukoil’s 290,000 b/d Perm and 95,000 b/d Ukhta refineries, Rosneft’s 268,000 b/d Angarsk plant and the Usinsk refinery have all supplied gasoil to Arkhangelsk this year. Arkhangelsk gasoil loadings totalled 327,000t during January-May, down from 463,000t in the first quarter of last year. Gasoil deliveries by rail to Arkhangelsk Refinery Antipinsky Angarsk Nizhnekamsk (Taif) Perm Usinsk Ukhta Total ’000t Jan-May 2014 0 29 21 62 202 12 327 © 2014 Argus Media Ltd www.argusmedia.com ± Jan May 2013 -245 29 21 62 -16 12 -136 Page 2 Argus Nefte Transport — News July 2014 First Murmansk terminal halts exports The First Murmansk Terminal (PMT), one of two product terminals at the far north port of Murmansk, has halted exports, loading its last cargo — 28,000t of naphtha — in June. Gazprom Marketing and Trading, its only export customer, has diverted cargoes to the Baltic port of Ust-Luga. PMT will now seek other clients or focus on product supplies to Russia’s northern territories under a state-run programme. PMT says it is unlikely to find new customers until autumn or winter. “Ust-Luga has limited spare capacity and will be unable to handle all the cargoes we would like to export. Ice will help us — cargoes will be diverted to our terminal as soon as other ports start having problems with ice,” a spokesman says. But some market participants doubt this. “The most they will be able to do is load small cargoes for the bunkering market,” says one. The spokesman concedes that it is difficult to say who might use the terminal for exports. The terminal loads 40,000 t/month of products for Russian consumers in spring and summer, with fuel oil and low-viscosity marine gasoil (MGO) for the bunkering market accounting for half of shipments, and gasoil bound for the northern territories for the rest. First Murmansk exports PMT loaded 39,400t of 2009 2010 2011 479.1 1,187 963.7 gasoil for the northern territories in April-May. Ports statis*Jan-May tics agency Morcentre-TEK says the terminal loaded 75,200t of gasoil for the northern territories during the same period last year, while overall domestic supplies reached 134,700t over the whole of 2013. The terminal says these figures only cover supplies to the Chukotka and Taimyr districts. “Under the most optimistic scenario, we could load 120,000 t/month, more tanks could be allocated, and as soon as we offer loading capacity, we will see more cargoes coming our way,” the spokesman says. The terminal also supplies products for far north oil and gas projects, including the Prirazlomnoye field in the Pechora Sea, and the consortium building the Sabetta terminal on the Yamal peninsula, which is becoming a key source of revenue. PMT delivers products to four destinations in the northern territories — Chukotka, Taimyr, Sabetta and Yakutia — with shipments totalling 200,000t during last year’s MaySeptember navigation season. Gasoil supplied to Chukotka is accumulated into 15,000t cargoes using a storage tanker because of a lack of onshore tanks. Some 156,000t of gasoil heads to Chukotka through Murmansk every season, fully covering demand, the spokesman says. “Domestic supplies are much more economic than exports because loading fees are higher,” he adds. “Loading fees for the northern territories programme have always been 50-100pc higher than for exports.” The northern territories programme has always faced a shortage of loading capacity. The ports of Murmansk, Arkhangelsk and ports in Russia’s far east are the only ones that supply products under the programme. Products are supplied to the northern territories just once or twice a year, so tanks must be allocated and cleaned before they can be used for gasoil, which limits the amount of storage that can be allocated to other customers. PMT also makes money from environmental services. It finished building a water and waste-water treatment facility in 2009, and this can now accept oil-contaminated water and ballast water for treatment. “Rates for water handling and treatment are higher than product loading rates, so this will be the main source of revenue this year. We plan to accept about 100,000t of ballast water for treatment,” the spokesman says. According to Morcentre-TEK, PMT exported 236,000t of products in January-May, down by 17,600t on the same period of 2013. In February, just 28,500t of naphtha was exported, down by 61,500t on January. Since then, PMT has exported just one tanker cargo a month. PMT exports peaked at 1.33mn t in 2012, rail freight forwarding companies say. Loadings totalled 849,300t last year. The worst year for exports was 2009, when just 479,000t was loaded at the terminal. PMT opened at the end of 2005, when it leased a tankfarm from Murmansk Fishing ’000t Sea Port on the eastern shore of the Kola bay for 10 years. 2012 2013 2014* 1,330.6 849.3 236.0 PMT is believed to be owned by a group of businessmen — freight forwarders and several companies. Alexela Logistics, which owns terminals at the Estonian ports of Sillamae and Paldiski, acts as export operator. The terminal has two areas. The upper section is 204m above sea level, and the lower section accommodates the main facilities, including two 24-car double-sided railracks for clean and dirty products. The dirty products rack has a steam heating system. The clean products discharge rate is 120 tankcars a day, the dirty products discharge rate is up to 48 tankcars a day in winter, and up to 72 a day in summer. The terminal’s sidings can accommodate up to 40 tankcars at a time and the nearby Kola station can receive trains of up to 55 tankcars. Trains are split into two parts on the approaches to the terminal access tracks before being moved into the sidings. PMT can load 2.4mn-2.5mn t/yr of clean products. The tankfarm can store 174,000t, including 25,000t of dirty products. Clean products can be stored in 11 5,000t and two 30,000t tanks, and one 35,000t tank. Russia’s far north ports loaded 6.72mn t of products last year, down by 1.45mn t on 2012, according to MorcentreTEK. The White Sea Complex at Vitino saw loadings fall most sharply, by 1.53mn t to 2.27mn t. Nothing has been loaded there since September, when Novatek diverted condensate and naphtha cargoes to its Ust-Luga terminal. Supplies through Rosneft’s Arkhangelsk terminal rose by 440,000t to 2.7mn t last year, but loadings are expected to fall this year because of the high cost of delivering freight to the port, the fact that tanker cargoes cannot exceed 23,000t and because of competition from Baltic outlets. © 2014 Argus Media Ltd www.argusmedia.com Page 3 Argus Nefte Transport — News Tariff rises to pay for rail upgrades Russian Railways (RZD) tariffs for crude and product deliveries are poised to rise again, following President Vladimir Putin’s approval. Most crude and product tariffs will rise by 13.4pc this year and by up to 10pc next year. The increases come despite last year’s decision to freeze the tariffs charged by Russia’s natural monopolies (NT, October, p6). “Effectively, our budget has been trimmed [after last year’s tariff freeze]; for the first time ever, the company came to the end of the first quarter with a loss, of Rbs16bn ($460mn). We have not been able to offset these losses through higher crude and product transportation tariffs,” RZD president Vladimir Yakunin said at a transport ministry meeting in April. The tariff rises are to come into effect from 9 August (see p10). Gasoil delivery tariffs will rise by 12.5pc and the only tariffs that will not rise are for transporting LPG, gasoil and for shipments along the Kaliningrad Rail- way. Tariffs for crude and all other refined products will rise by 13.4pc on all routes. RZD needs to pay for its ambitious upgrade of the Baikal-Amur Mainline in Russia’s far east (see p8). This will lift capacity by 75mn t/yr to 185mn t/yr — including along the Trans-Siberia Railway — by 2018. The ceremony marking the laying of the first section of track — from Taximo to Lodya in Buryatiya — took place on 8 July. “Any cost escalation is a problem. Congestion means that the river system cannot handle any more volumes. But there is no escaping the fact that rail transport is key for product exporters. RZD’s lobbying capabilities are just overwhelming,” a cargo owner says. Another market participant says that such a sharp and sudden tariff rise means that firms will lose confidence in rail transport and that despite all the current difficulties, exporters will do their best to maximise their use of pipelines and the river network. July 2014 Azov terminal to load more gasoline The Azovprodukt terminal at the Russian Azov Sea port of Azov has converted two 5,000m³ naphtha tanks to store A-92 and A-95 gasoline bound for Crimea. This month, two 3,000t cargoes of gasoline from the 323,000 b/d Mozyr refinery in Belarus have been shipped to the peninsula, according to a source familiar with the situation. The terminal has six 5,000m³ tanks, three of which continue to be used for naphtha. Trading firm Coral Energy uses the terminal to supply naphtha from Gazprom’s Astrakhan gas processing plant and the Svetly Yar refinery in the Volgograd region to Turkish petrochemicals firm Petkim. Some 54,600t of naphtha loaded at Astrakhan in January-May, down from 61,900t during the same period last year. The terminal also uses a 5,000m³ tank for low-viscosity bunker fuel and handles 1,500 t/month supplied by Gazpromneft Marine Bunker. Transneft considers Z-P pipeline capacity cut Transneft may cut the capacity of its planned 900,000 b/d Zapolyarye-Purpe (Z-P) pipeline that will link new fields in Yamal-Nenets with the East Siberia-Pacific Ocean (ESPO) pipeline. This follows a decision by Russia’s state-controlled Rosneft not to use Z-P to transport crude from its fields in the north of Krasnoyarsk territory. “We will have the capacity to ship 45mn t/yr [900,000 b/d] but we have received guarantees of supplies of no more than 32mn t/yr,” a Transneft source said last month. The company could reduce the number of planned pumping stations on the 520km line, or change their locations, he adds. Transneft is now on course to commission Z-P in the first quarter of 2016, rather than the fourth quarter, as originally planned. But last month it said it might halt construction temporarily, as it will not be able to operate and maintain the pipeline without crude. And it warned in January that the line will remain half full for one or two years because development of the fields that will supply it is moving slowly (NT, January, p5). The main crude sources for the pipeline, which will cost around $6.5bn, will be the 4.5bn bl Messoyakh fields, which are co-owned by Rosneft and Gazpromneft, the 3.7bn bl Russkoye heavy oil field and the Russko-Rechenskoye gas condensate field. The Messoyakh group alone is expected to provide 8mn t/yr (160,000 b/d) by 2020. Z-P will also receive crude from fields being developed by Novatek-Gazpromneft joint venture Severenergia, Novatek’s Yarudeiskoye field and Lukoil’s fields in the Bolshekhetskaya Depression. Rosneft was expected to be the key provider of crude for Z-P. But after taking control of TNK-BP last year Rosneft decided to ship crude from at least three of its Krasnoyarsk fields — Suzun, Tagul and Lodochnoye — through its own Vankor-Purpe pipeline. Transneft wants Rosneft to provide compensation for withdrawing from the pump-or-pay agreement reached with TNK-BP. Rosneft says it will still deliver crude to the Purpe hub to be shipped eastwards, but by using a different route, a source at Transneft says. Rosneft declines to comment, but has said it opted for a more efficient route. Transneft plans to finish the first stage of Z-P from Tarko-Sale to Purpe before the end of this year, and the second section, from Tarko-Sale to Novozapolyarny in the fourth quarter of 2015. The final section to Zapolyarye should be complete at the start of 2016. Gazpromneft, the operator of the Messoyakh project, has selected Spetsgazavtotrans and Velesstroi to build a 120,000 b/d, 95km pipeline to connect its East Messoyakh field to the starting point of Z-P. Construction is expected to start in the fourth quarter. © 2014 Argus Media Ltd www.argusmedia.com Page 4 Argus Nefte Transport — News July 2014 First Ryazan fuel oil for Novorossiysk Rosneft plans to supply about 170,000t (5,480 t/d) of fuel oil from its 340,000 b/d Ryazan refinery to the Novorossiysk Fuel Oil Terminal (NMT) in July, the first Ryazan product exports through the Black Sea port. Ryazan fuel oil is heading to Novorossiysk after Rosneft started cutting supplies to the Estonian port of Tallinn in February, where Russian Railways is still slow to confirm deliveries. Ryazan fuel oil supplies to Tallinn averaged 238,000 t/month last year, compared with 177,400t in January this year, 55,000 t/month in February-April and nothing in May. In February, Rosneft began shipping Ryazan fuel oil to the Latvian port of Ventspils for sale to Lukoil trading arm Litasco. It shipped 400,000t from the plant to the port in February-May, freight forwarding firms say. Rosneft delivered 180,000t of Ryazan fuel oil to its terminal at the Black Sea port of Tuapse in April-May. But it opted to export Ryazan product, through Novorossiysk because all of Tuapse’s capacity is likely to be used for products from Rosneft’s 240,000 b/d Tuapse refinery, an industry source says. It is unclear if fuel oil exports through Ventspils will resume. Novorossiysk exports down Novorossiysk product exports are due to fall by 11pc from June’s plan to 40,050 t/d (1.24mn t) next month, traders say, with fuel oil hardest hit. Loadings at NMT, co-owned by Gunvor and Novorossiysk Commercial Sea Port, will fall by 27.6pc to 7,440 t/d. Rosneft will cut Samara fuel oil supplies to just 645 t/d from 6,930 t/d, reflecting maintenance to a crude distillation unit at the 190,000 b/d Novokuibyshev refinery on 1-20 July. Gasoil supplies are due to fall by 2,000 t/d to 22,740t (705,000t). Gazpromneft’s 560,000 b/d Omsk refinery is not expected to supply any 10ppm Novo product exports* ’000 t/d Jul ±% Jun NMT 7.44 -27.58 Sheskharis 9.87 -2.02 Total fuel oil 17.30 -14.92 12.97 -14.94 Fuel oil Gasoil IPP Sheskharis 9.77 3.27 Total gasoil 22.74 -7.97 Grand total 40.05 -11.11 *scheduled — market participants diesel to the IPP terminal, market participants say. Omsk was due to ship about 76,500t of 10ppm to IPP in June. Gazpromneft’s decision not to export 10ppm through IPP could reflect the rise in supplies of the grade to Russia’s far eastern regions. Domestic demand for 10ppm from Omsk has jumped after the shut-down of Rosneft’s Achinsk refinery following a fire in mid-June. The energy ministry says Omsk is unlikely to resume runs before November. Trans-Caspian costs rise for Kazakh crude The cost of shipping Kazakh crude across the Caspian Sea to the Russian port of Makhachkala and along the AktauBaku-Batumi route has risen. But market participants do not expect this to prompt a drop in shipments. Kazakh state-controlled shipping company Kazmortransflot (KMTF) increased tanker freight rates on the AktauMakhachkala route to $13.35/t from $11.85/t on 1 July. This is the first time KMTF has changed the freight rate for this route for years, industry sources say. At Makhachkala, crude is pumped into the Transneft pipeline system for onward delivery to Novorossiysk. Total transportation costs for crude suppliers using the AktauMakhachkala-Novorossiysk route have risen to about $33.35/t from $31.85/t as a result of the freight rate increase. Kazakh suppliers plan to export 211,500t of crude through Makhachkala this month, compared with 220,000t in June. The cost of shipping Kazakh crude along the AktauBaku-Batumi route rose to $61.54/t from $57.54/t in May. Kazakh crude exporters usually agree all-inclusive transportation rates from Aktau through Azerbaijan and Georgia, in order to reduce their total transportation costs. “The cost of everything along this route has increased since the start of the year — freight, handling at Azeri terminals and rail transportation,” an industry observer says. But the tariff increase does not apply to Tengiz crude shipped by Ten- gizchevroil (TCO) for export through the Georgian ports of Batumi and Kulevi. Some 45,000 t/month of Kazakh crude headed along the Aktau-Baku-Batumi route in January-June. Kumkol crude exports from Batumi fell to 216,000t in January-May from 309,000t a year earlier. MET cut for Karazhanbas Kazakhstan has slashed the mineral extraction tax (MET) rate for the Karazhanbas oil field being developed by Karazhanbasmunai, co-owned by Kazakh state-run Kazmunaigaz (KMG) and China’s CITIC Group. Prime minister Karim Masimov signed an order on 18 June cutting Karazhanbas MET to 0.5pc of production costs from 9pc. Karazhanbas is the only oil field on a list of “marginal, high-viscosity, water-flooded and depleted fields”. Crude and condensate MET is based on annual output and varies from 5pc to 18pc. Karazhanbasmunai produced 874,000t in January-May, up by 3.7pc on the year. The rate cut will make production and exports more profitable. Crude is shipped from the field through the Atyrau-Samara pipeline, and along the Aktau-MakhachkalaNovorossiysk route. Oil firms in Kazakhstan also usually pay a rental tax based on global crude prices, as well as export duty. Crude export duty rose by a third to $80/t on 12 March. © 2014 Argus Media Ltd www.argusmedia.com Page 5 Argus Nefte Transport — News July 2014 Yaisky plant to cut product exports Neftekhimservice’s 60,000 b/d Yaisky refinery in the Kemerovo region of Siberia will stop seaborne exports of 0.4pc sulphur gasoil this month in order to meet growing domestic demand. The Naftimpeks terminal at the Latvian port of Riga received about 15,000 t/month of the grade by rail from Yaisky in February, April, May and June. Lukoil trading arm Litasco bought these cargoes. Just under 16,000 t/month of Yaisky 0.4pc gasoil headed through the IPP terminal at the Black Sea port of Novorossiysk in January-May. Neftekhimservice supplied it by rail for sale to trading firm Crudex on a cpt Novorossiysk basis, traders say. But no Yaisky gasoil loaded at IPP in June, according to a terminal source, who says supplies will resume in October, when agricultural sector demand slackens. Yaisky also shipped 18,000 t/month of gasoil to Mongolia between August 2013 and May 2014, with a smaller amount heading to Uzbekistan and Kyr- gyzstan. Market participants expect these deliveries to stay steady thanks to strong demand. Yaisky exported 148,200t of naphtha in January-May, up by 23.3pc on August-December, after crude processing hit its 3mn t/yr capacity following hook-up to Transneft’s pipeline system. This year, most product exports have loaded at Russia’s Baltic port of Vysotsk for Litasco. Some naphtha was loaded at Gunvor’s Ust-Luga terminal last year, and this year, cargoes have also headed through Russia’s far east port of Vanino. Yaisky shipped just under 7,000 t/ month of fuel oil to China in NovemberMarch. But exports halted in April after domestic sales became more profitable, Neftekhimservice says. Yaisky came on stream in July 2013 and has been receiving 250,000 t/month of crude since May this year by pipeline. Runs did not exceed 214,000 t/month before this, averaging 179,700 t/month. A diesel hydrotreater, hydrogen and sulphur units are due on line in 2017 Yaisky product exports Naphtha Vanino Mari-El product exports, Product, destination ’000t Jan-Jun 13 Naphtha (Arkhangelsk) 55.30 Kerosine (Riga) 90.98 Fuel oil 76.12 Riga 67.13 Finland 8.98 the amount of products involved has not been disclosed. The refinery exported around 11,000 t/month of naphtha through the Russian port of Arkhangelsk in January-May last year, before production was suspended. The buyer was trading firm Glencore. Mari-El exported 18,200 t/month of gasoil through Latvia’s Riga in January-May. It also exported around 15,000t/month of fuel oil, most of which also went through Riga with 1,500 t/month was supplied to Finland. A further 1,500 t/was supplied to Finland in June 2013, before supplies stopped completely. ’000t ±% Aug-Dec 13 23.30 11.97 Vysotsk 136.18 Ust-Luga -100.00 Gasoil 266.61 Kazakhstan Kyrgyzstan 23.57 163.15 0.29 6.16 -50.34 Mongolia 91.83 3.29 Novorossiysk 79.81 Riga 45.91 Uzbekistan 37.81 Finland 4.80 Fuel oil 29.23 Vanino 4.96 Kazakhstan China Total 127.97 -100.00 24.28 133.13 444.00 89.50 Yaisky product output ’000t May 36.0 ±% Apr 28.57 Gasoil 110.1 35.59 Fuel oil 102.7 26.01 Total 248.8 30.47 Naphtha and product output is likely to stay stable until then, plant managers say. Product output totalled 248,800t in May, up by 30.5pc on April. Mari-El resumes exports The 25,000 b/d Mari-El refinery in central Russia, which is currently controlled by VTB Bank, resumed product exports last month, market participants say. Mari-El restarted crude runs in the first 10 days of June, after being shut down for a year because of financing problems. These culminated in control passing from a group of private businessmen to creditor VTB Bank, after it was unable to repay a 2011 loan for crude purchases. VTB subsequently appointed the management of the 150,000 b/d Antipinsky refinery in west Sibiera to run the Mari-El plant. It bought 85,000t of crude and was planning to run 120,000t. Shell regularly supplied the refinery before the stoppage. Antipinsky management is mainly expected to supply crude to Mari-El under its own contract with Surgutneftegaz. They began to offer products from Mari-El in mid-June for delivery this month, market participants say. But Jan-May 14 148.15 River supplies to Ukraine fall Ukraine’s Continuum, with over 450 filling stations under the WOG brand, has stopped supplying products from Belarus along the Pripyat and Dnieper rivers. “We imported 1,500t of gasoil from the Mozyr refinery by river last year, as the terms offered by Belarusian River Shipping were good. But we now find road and rail supplies more efficient,” a spokesman says. Pripyat water levels are low this year, so barges can only be loaded to 80pc of capacity, he adds. Traders say the Ukrainian division of Azerbaijan’s Socar is the only firm shipping Mozyr gasoil by river this year. “Socar planned to ship 5,000 t/month of gasoil by river, but they cannot load 1,150t barges with more than 800t,” an industry source says. Ukraine’s DDS Shipping, with two 1,150t barges, is handling the deliveries. Continuum imported 1,500t of Mozyr gasoil, and Socar 1,900t, by river last year. © 2014 Argus Media Ltd www.argusmedia.com Page 6 Argus Nefte Transport — News Sour times for Urals The quality of Urals crude will deteriorate because of a continuing decline in the supply of light sweet crude to the Transneft system, Transneft’s deputy vice-president for crude transport, metering and quality, Igor Katsal, said at the Argus Russian Crude conference in Moscow last month. Russian oil companies have been processing more light, sweet crude at the country’s refineries to produce low-sulphur clean products and exporting it by routes that bypass the Transneft system, such as Lukoil’s far-north Varandey terminal. The Transneft system received 196.4mn t of sweet crude for shipment to western export destinations last year, down by 31.5mn t on 2008. Supplies of sour crude rose by 8mn t to 60mn t over the same period. Transneft expects Urals’ quality to deteriorate this year (see table). In the longer run, the sulphur content of Urals could reach 1.7pc along the Druzhba pipeline route and at Ust- July 2014 Luga, but is unlikely to exceed this. Quality could also pick up after 2020 as a result of increased production of low-sulphur crude in east Siberia. In the meantime, Transneft is taking measures to maintain crude quality. In particular, it plans to start shipping high-sulphur crude (2.86pc sulphur) from Bashkortostan to Kazakhstan and through the East Siberia-Pacific Ocean (ESPO) pipeline system in the first quarter of next year. Transneft says the sulphur content of crude shipped through its system to Kozmino will not exceed 0.6pc, compared with the current 0.5pc, while sulphur content in crude supplied to Kazakhstan will not exceed 1.5pc, against the current 1.2pc. From the first quarter of next year, the pipeline operator plans to start crude supplies eastwards from Bashkortostan, with shipments gradually rising to 4mn t/yr, and possibly eventually to as much as 6mn t/yr. Russian crude quality Port Density kg/m³ 2007 Sulphur % Density kg/m³ 2010 Sulphur % 2012 Density, Sulphur kg/m³ % Density kg/m³ 2013 Sulphur % Density kg/m³ 2014 Sulphur % Novorossiysk (Urals) 865.8 1.25 868.4 1.37 866.2 1.33 866.4 1.29 868.0 1.36 Primorsk (Urals) 863.4 1.32 863.7 1.28 865.2 1.38 866.1 1.38 867.8 1.44 866.7 1.51 867.1 1.56 868.0 1.60 863.0 1.41 855.1 1.47 865.8 1.51 866.8 1.58 868.0 1.60 842.0 0.59 842.2 0.50 842.6 0.49 843.8 Ust-Luga (Urals) Druzhba (Urals) Kozmino (ESPO Blend) 0.50 — Transneft LPG tankcar deal derailed Garant would have leased half the purchased fleet back to Rail Garant has failed to raise the money needed to buy Sibur, which would also have been able to use the other half Sibur’s LPG tankcars, losing its priority right to purchase under service agreements. The lease and service agreements the fleet in the process. were expected to run for six years, ensuring that Sibur had Sibur has been seeking new buyers for its LPG tankcars enough tankcars to handle its LPG output. since June, market participants say. Rail Garant denies that another firm could now buy the rolling stock, Russia’s LPG tankcar fleet SG-Trans and insists that it will buy the tankcars by the end of July. SG-Trans, Russia’s largest LPG SG-Trans now seems the likeliest buyer. At the No. of tankcars SG-Trans 14,159 tankcar owner and shipper, and Gazprom subSt Petersburg International Economic Forum Gazpromtrans 5,280 sidiary Gazpromtrans are among the other in May, Sberbank and SG-Trans signed a fiveSibur-Trans 4,365 contenders to buy the Sibur fleet. year deal covering financing rolling stock purSpetsenergotrans 3,790 Under an agreement between Sibur and chases, with an extension option. The agreeWBS Trans 1,604 Railtransholding 1,630 Rail Garant that expired in May, the latter ment was signed with a view to acquiring Brunswick Rail 1,260 was to pay Rbs11.5bn ($330mn). But Rail Sibur’s LPG tankcars, market participants say. Rail Garant 1,000 Garant struggled to secure loans, market parSibur and SG-Trans decline to comment. Rail 1520 100 ticipants say. “The asset is attractive for Gazpromtrans, — market participants Rail Garant has a 15,627-strong fleet of but the price is excessive and lease rates too open wagons, but Russia’s rolling stock surplus means that low, so they are unlikely to express interest,” another industry lease rates have fallen to just Rbs500/d, excluding VAT, source says. “Sibur will not sell its fleet to Gazpromtrans over the last year. This means that the banks are now sceptibecause they compete on the LPG market. SG-Trans seems a cal about Rail Garant’s ability to repay its loans. “A third of likelier buyer because it is just a rail operator, so if it buys it Rail Garant’s open wagons will need maintenance this year will not affect the market,” another market participant adds. because they have now been in operation for three years,” There are 33,188 LPG tankcars operating in Russia. an industry source says. Lease rates are estimated at Rbs1,350-1,450/d excluding Under the preliminary terms of the expired deal, Rail VAT, down from Rbs1,600-1,800/d in July last year. © 2014 Argus Media Ltd www.argusmedia.com Page 7 Argus Nefte Transport — News July 2014 Far east rail expansion on track The Russian government and Russian Railways (RZD) have started expanding Siberia’s Baikal-Amur Mainline (BAM), a project that could help companies supplying the fast-growing bunker market in Russia’s far east. The capacity of BAM, which runs from Taishet in the Irkutsk region to the port of Sovetskaya Gavan in the Khabarovsk region, is due to rise by 75mn t/yr to 85mn t/yr by 2018. Coal producers will be the main beneficiaries at first, but the expansion could eventually expedite shipments of refined products. The project is expected to absorb Rbs61.4bn ($1.8bn) this year. RZD expects to have upgraded the 1,000km section from Lena in the Irkutsk region to Khani in Yakutia, and to have laid new sidings along the 300km Tynda-Ulak section in the Amur region and the 600km Ulak-Novy Urgal section in the Khabarovsk region by the end of this year. In all, 92 new stations, 47 sidings and over 460km of second tracks are due to be built by 2018. At present, BAM has double tracks on the 704km Taishet-Lena section and the single-track section is electrified for 725km from Lena to Taksimo in Buryatia. The rest of BAM is a single track without electrification. Product exports from Transbunker’s Vanino terminal, the Primornefteprodukt outlet in Vladivostok, Rosneft’s RNNakhodkanefteprodukt terminal at Nakhodka and the Vostokbunker terminal at Slavyanka — all in Russia’s far east — fell by over 1mn t to 8.05mn t last year. Bunker mentality In contrast, the region’s bunkering market is developing rapidly, with sales up by 46pc to 5.2mn t last year. But limited rail capacity and port infrastructure has forced sellers to start shipping fuel oil by sea from ports in the European part of Russia. BAM runs to Alliance Oil’s small Gavanbunker terminal at Sovetskaya Gavan. Vanino, which is home to Transbunker’s 3.5mn-4mn t/yr mini-refinery and terminal, is 30km to Rail routes in Russia’s far east the north. BAM’s section from Komsomolsk to Sovetskaya Gavan and Vanino is a single track with a capacity of 15.9mn t/yr. The main customer at the Vanino terminal is Rosneft, which exports fuel oil and naphtha produced at its Komsomolsk refinery, and less frequently products from its Angarsk plant. It uses Vanino because of favourable rail tariffs — Komsomolsk is closer to Vanino than Nakhodka, where Rosneft has a terminal of its own. Alliance Oil’s Khabarovsk refinery and Gazpromneft’s Omsk refinery also occasionally export through Vanino. Product deliveries by rail from Khabarovsk to Sovetskaya Gavan currently take two weeks. Alliance’s Gavanbunker terminal at Sovetskaya Gavan is involved in both bunkering operations and product exports. It used to supply cargoes delivered to Russia’s remote northern territories, as well as the more isolated areas of the Khabarovsk region and other far-flung regions of the federation. Gavanbunker’s capacity is estimated at 240,000-250,000 t/yr and Alliance also owns several large tankfarms in the region. Loading at the terminal totalled 149,000t last year, down from 171,500t during 2012. The overall cost of the BAM expansion project is expected to reach Rbs562bn. Of this, Rbs302bn will come from RZD, with Rbs150bn due to be allocated by Russia’s national wealth fund, and Rbs110bn coming straight from the federal budget. BAM is one of the longest trunk rail lines in the world, at 4,287km from Taishet to Sovetskaya Gavan (see map). It has several branch lines to the north, with the longest, at over 1,000km, running to Yakutsk. Three links also run south to the Trans-Siberian Railway — Tynda-Bamovskaya (Amur region); Novy Urgal-Izvestkovaya (Jewish autonomous region); and Komsomolsk-on-Amur (Komsomolsk region)- Volochayevka (Jewish Autonomous region). The Trans-Siberian Railway’s freight capacity is currently estiSea of Japan mated at 100mn t/yr. Russia Tynda Achinsk Khani Taksimo Krasnoyarsk Ulak Komsomolsk Bamovskaya Lena aika l Novi Urgal Lak Angarsk Irkutsk Ulan-Ude Vanino Khabarovsk Sovetskaya Gavan Khabarovsk Izvestkovaya eB Taishet Komsomolsk-onAmur Volochayevka Chita China Trans-Siberian Railway Baikal-Amur Mainline Station Port Refinery Mongolia © 2014 Argus Media Ltd www.argusmedia.com Vladivostok Kozmino Nakhodka Page 8 Argus Nefte Transport — News New ride for old cars The customs union between Russia, Belarus and Kazakhstan is due to introduce new restrictions on the use of rail tankcars that have exceeded their service life on 2 August, although the details remain unclear. But the general-director of Russia’s largest tankcar operator First Freight (PGK), Oleg Bukin, pointed out that the technical regulations need to be supported by an intergovernmental agreement between the three countries. This would set out the upgrades that old tankcar owners must carry out to continue operating their rolling stock. The industry and trade ministry says approximately 270,000 railcars in Russia — or 22pc of the fleet — are currently operating beyond their service lives. The service life of a tankcar is 32 years and 22 years for open wagons, but these are generally extended by 10-11 years. PGK is likely to be hardest hit by the new regulations, with some market participants saying it might have to retire 10,000-30,000 cars, or 25-50pc of its fleet. The firm owns 45,000 tankcars with an average age of 30 years. But Bukin points out that not all railcars will need their service life extended at the same time. PGK handles two-thirds of Rosneft’s rail crude deliveries and has a two-year agreement with the firm. Industry observers say the state-controlled firm’s influence means that there is unlikely to be a sharp drop in these shipments after the new regulations take force. Serious effects ISR Trans and the Oteko group also have relatively old tankcar fleets. But with an average age of 18 years, they are still operating well within their service lives. The average age of Transoil and Sibur-Trans tankcars is 13 years, while tankcars owned by most other companies have an average age of six years. The decommissioning of 10,000 rail tankcars could seriously affect the market, according to the head of one operating company. He points out that while it is true that there is currently a surplus of tankcars, a shortage could still arise “in the event of some kind of force majeure”. The introduction of the new regulations should be followed by the publication of a Russian GOST standard for railcar upgrades and a certification procedure will then need to be developed and approved. Firms will have to obtain a railcar upgrade design certificate and a certificate authorising a specific company to perform the maintenance work. Bukin says the certification process could take anything from six months to two years. Russian Railways (RZD) subsidiary Federal Freight (FGK) — which operates open wagons and 4,500 tankcars — is against abolishing service life extensions. At a recent rail conference in Sochi on the Black Sea, rolling stock director Alexander Furtsev said banning service life extensions will lead to shortages and an uncontrolled rise in lease rates. He also argued that the price of new tankcars will rise, which would force companies to borrow more. Repair firms will also struggle because their maintenance orders will dwindle. Phased retirement FGK wants to see a phased tankcar retirement programme, claiming that its statistics show that the main reason for wrecks and derailments is failure of running gear, namely ruptures to sideframes in operation for less than seven years. FGK says there were 148 safety accidents between January 2013 and May 2014 inclusive — 11 crashes, 114 derailments and 23 accidents unrelated to derailment. Of the 87 railcars involved in incidents caused by defects or failures, 22 were built before 1990, 19 were built in 1990-2000 and 46 were built in 2000-13. Railcar service lives can currently be extended after depot servicing and capital repairs are carried out. Bukin says PGK pays Rbs15,000-20,000 ($435-580) per unit to extend tankcar service lives using accredited refurbishment companies. July 2014 Ports adjust loading tariffs Crude and product loading tariffs at certain sea ports changed this month. Rosneft’s terminal at Russia’s far east port of Nakhodka increased its rate for clean product loadings by Rbs56/t ($1.60/t), to Rbs288/t, and its dirty product loading rate by Rbs71/t to Rbs366/t on 1 April, after the federal tariff service deregulated tariffs at the terminal. Rates at other Russian ports are unchanged. The clean product loading rate at the Lithuanian port of Klaipeda fell to €3.50/t ($4.71/t) from €4/t, as the terminal continues to try to offset the loss of Russian product cargoes. A source at one of Kaliningrad’s five product terminals says clean products were loaded at $12/t early this year, but that the rate has now fallen to $8-10/t. None of the other terminals confirms this. Loading tariffs at the Ukrainian ports of Odessa and Ilyichevsk fell slightly. The cost of clean product loadings at Ilyichevsk has fallen to $15/t from $15-16/t at the beginning of this year. Product loading rates Port Tallinn Clean €12.00-14.00/t Dirty €14.00-16.00/t Klaipeda €3.50-5.00/t €4.60-7.00/t Ventspils €14.50-15.50/t €13.50-18.00/t Riga €13.00-16.00/t – – $12.00-15.00/t – $15.00-16.00/t Nikolayev Odessa Ilychevsk Sevastopol Nakhodka Vanino $15.00/t $15.00/t – $12.60-14.60/t Rbs288.00/t Rbs366.00/t $5.10/t $7.20/t Murmansk $10.00-12.00/t $18.50-19.00/t Arkhangelsk $12.00-16.00/t – Kaliningrad $8.00-12.00/t $14.00-16.00/t $13.00-14.50/t $14.00-17.00/t St Petersburg Primorsk Rbs326.72/t – Vysotsk Rbs400.00450.00/t Rbs490.00530.00/t Ust-Luga $13.00-15.00/t $17.00-18.50/t Azov $12.00-15.00/t $17.00-17.50/t – $14.00-16.50/t Eisk Taganrog – $13.00-16.00/t $12.00-14.00/t $15.00-18.00/t Tuapse Rbs429.80436.20/t Rbs594.80601.21/t Kavkaz $11.00-16.00/t $14.00-16.00/t Taman – $17.00-19.00/t Novorossiysk © 2014 Argus Media Ltd www.argusmedia.com Page 9 Argus Nefte Transport — News July 2014 Rail tariffs for crude exports from 9 Aug Rbs/t Novorossiysk (Grushovaya) 2,062.54 1,088.21 540.28 2,758.71 2,169.15 924.57 1,871.26 Krotovka Chervlennaya Tikhoretskaya Privodino Sorochinskaya Novaya Zhizn Znamensk Getmanovskaya (Getmanovskaya) 1,936.42 886.95 321.35 2,761.68 2,029.37 672.99 1,850.73 Arkhangelsk (Arkhangelsk Gorod) 2,334.58 3,150.64 2,687.17 1,125.08 2,512.86 2,991.54 1,711.91 Svetly (Baltisky Les) 1,653.74 2,173.71 1,653.74 1,572.14 1,719.09 2,032.26 262.25 Finland (Buslovskaya) 3,888.62 5,007.37 4,263.91 2.580.1 4,003.25 4,717.36 1,081.13 Rail tariffs for fuel oil exports from 9 Aug Volgograd Kirishi Moscow Nizhny Novgorod Nizhnekamsk Novokuibyshev Orsk Perm Ryazan Saratov Ukhta Yaroslavl (Tatyanka) (Kirishi) (Yanichkino) (Zeletsino) (Biklyan) (Novokuibyshev) (Nikel) (Osentsy) (Stenkino 2) (Knyazevka) (Vetlasyan) (Novoyaroslavl) Novo 1,138.73 2,779.39 1,900.13 2,272.92 2,532.42 1,991.03 2,607.86 2,849.18 1,725.10 1,577.10 3,173.10 2,187.14 Rbs/t Tuapse 1,264.41 2,947.07 2,080.07 2,455.18 2,607.86 2,080.07 2,707.53 2,947.07 1,900.13 1,671.14 3,364.18 2,272.92 Kavkaz 1,264.41 2,849.18 1,991.03 2,353.33 2,607.86 2,080.07 2,707.53 2,947.07 1,818.04 1,725.10 3,268.52 2,272.92 Odessa 1,546.36 1,147.99 1,185.44 2,049.64 2,580.51 1,926.36 2,832.09 3,045.26 1,381.88 1,546.36 3,176.03 1,604.25 Sevastopol 1,651.65 3,236.42 2,378.28 2,740.57 2,995.10 2,467.31 3,094.77 3,334.31 2,205.28 2,112.34 3,655.76 2,660.16 Vysotsk 2,607.86 598.82 1,671.14 1,818.04 2,272.92 2,455.18 3,013.28 2,272.92 1,779.71 2,353.33 2,187.14 1,343.41 St Pete 2,455.18 400.22 1,535.80 1,671.14 2,187.14 2,272.92 2,947.07 2,080.07 1,631.20 2,272.92 1,991.03 1,184.01 Tallinn 3,045.26 765.59 1,649.46 2,119.05 3,045.26 2,942.14 3,892.08 2,832.09 1,926.36 2,694.68 2,832.09 1,552.11 Rail tariffs for VGO exports from 9 Aug Volgograd Nizhny Novgorod Nizhnekamsk Salavat Perm Ryazan Saratov Ufa Ukhta (Tatyanka) (Zeletsino) (Biklyan) (Allaguvat) (Osentsy) (Stenkino 2) (Knyazevka) (Benzin) (Vetlasyan) Rbs/t Vysotsk (Vysotsk) 4,056.74 2,825.86 3,534.77 4,324.05 3,534.77 2,766.10 3,660.06 4,212.08 3,401.09 Odessa (Odessa-Peresyp) 1,837.37 2,450.28 3,095.45 3,401.09 3,660.06 1,637.65 1,837.37 3,234.21 3,818.81 Riga (Mangali) 3,401.09 2.450.28 3,660.06 4,056.74 3,660.06 2,032.62 2,953.76 3,939.18 3,712.08 Finland (Buslovskaya) 4,056.74 2,825.86 3,534.77 4,324.05 3,534.77 2,766.10 3,660.06 4,212.08 3,401.09 Klaipeda (Klaipeda) 2,653.65 2,233.39 3,234.21 3,818.81 3,534.77 1,709.09 2,498.33 3,660.06 3,712.08 Vitino 1,964.20 1,640.89 2,098.22 1,938.05 2,191.26 1,415.55 1,852.83 1,679.02 1,723.66 1,593.33 Murmansk 2,043.31 1,741.05 2,191.26 2,043.31 2,312.20 1,567.03 1,964.20 1,800.94 1,813.98 1,723.66 Arkhangelsk 1,741.05 1,365.06 1,852.83 1,723.66 1,964.20 1,099.49 1,640.89 1,415.55 1,471.18 1,365.06 Ust-Luga 1,813.98 1,471.18 1,938.05 1,800.94 2,043.31 1,126.48 1,723.66 1,501.89 1,471.18 1,471.18 Kaliningrad 655.00 1,240.37 1,775.60 2,023.32 814.79 1,562.67 Vitino 1,462.34 2,294.65 2,628.45 2,556.07 1,809.00 2,805.52 Tuapse 2,978.86 2,475.74 2,628.45 2,978.86 2,294.65 2,103.38 Ust-Luga 609.80 1,809.00 2,294.65 2,212.36 1,377.75 2,378.03 Vitino 1,462.34 3,280.95 3,280.95 2,628.45 1,809.00 3,666.03 Murmansk 1,744.07 3,555.76 3,555.76 2,872.45 2,103.38 3,940.85 Riga 1,125.36 3,243.08 3,243.08 3,018.09 1,608.84 4,393.98 Rail tariffs for naphtha exports from 9 Aug Krasnoleninskiy Nizhnekamsk Omsk Tobolsk Nizhnevartovsk Ryazan Antipinsky Minnibayevsky Saratov Tchaikovsky (Nyagan) (Biklyan) (Kombinatskaya) (Tobolsk) (Nizhnevartovsk 2) (Stenkino 2) (Turinsky) (Kulsharipovo) (Knyazevka) (Kauchuk) Rbs/t Kaliningrad 1,347.67 917.77 1,447.24 1,327.10 1,518.42 378.75 1,289.78 917.77 753.67 882.92 Rail tariffs for gasoline (for blending) exports from 9 Aug Kirishi Nizhny Novgorod Nizhnekamsk Perm Yaroslavl Novokuibyshev (Kirishi) (Zeletsino) (Biklyan) (Osentsy) (Novoyaroslavsk) (Novokuibyshev) Arkhangelsk 1,556.20 1,692.27 2,103.38 2,017.98 1,261.89 2,294.65 Rbs/t Rail tariffs for gasoline exports from 9 Aug Kirishi Krasnodar Afipsky Nizhnekamsk Yaroslavl Omsk (Kirishi (Krasnodar 1 (Afipskaya (Biklyan Novoyaroslavskaya (Kombinatskaya) Ventspils 1,125.36 3,,243.08 3,243.08 3,018.09 1,608.84 4,393.98 Rbs/t Tuapse 2,978.86 463.38 463.38 2,628.45 2,294.65 3,757.56 Rail tariffs for gasoil exports from 9 Aug Volgograd Krasnodar Afipsky Kirishi Moscow Nizhny Novgorod Nizhnekamsk Omsk Orsk Saratov Yaroslavl Transnefteprodukt Bryansk-Vostochny Nikolskoye Ust-Luga 2,532.42 575.48 1,437.91 1,779.71 2,272.92 2,353.33 3,013.28 2,187.14 1,671.14 2,272.92 2,080.07 1,343.41 Rbs/t (Tatyanka) (Krasnodar 1) (Afipskaya) (Kirishi) (Yanichkino) (Zeletsino) (Biklyan) (Kombinatskaya) (Nikel) (Knyazevka) (Novoyaroslavskaya) Novorossiysk (Grushovaya) 1,273.35 434.82 396.55 3,074.92 2,105.76 2,513.28 2,712.62 3,902.92 2,880.65 1,750.85 2,302.68 Vysotsk (Vysotsk) 2,880.65 3,161.37 3,265.08 682.55 1,850.46 2,018.75 2,513.28 3,599.37 3,335.22 2,604.73 1,502.73 Туапсе (Tuapse port) 1,412.76 496.73 496.73 3,265.08 2,302.68 2,712.62 2,880.65 4,123.84 2,998.77 1,850.46 2,513.28 St Pete (Avtovo) 2,721.24 3,083.53 3,083.53 474.45 1,709.47 1,859.07 2,431.00 3,506.91 3,273.69 2,521.89 1,336.17 Ventspils (Ventspils) 2,588.30 2,991.76 2,991.76 1,023.11 1,269.38 1,872.41 2,782.73 4,060.41 3,283.95 2,250.78 1,471.90 Kaliningrad (Port) 1,765.86 2,106.23 2,106.23 770.74 776.99 1,469.15 2,106.23 3,363.65 2,656.19 1,693.66 958.67 Kavkaz (Kavkaz) 1,419.01 632.13 606.43 3,148.86 2,208.33 2,604.73 2,880.65 4,123.84 2,998.77 1,907.71 2,513.28 (Bryansk-Vostochny) (Nikolskoye) 2,105.76 1,642.80 2,302.68 2,208.33 2,302.68 1,850.46 2,114.37 2,027.37 1,057.95 1,757.37 454.03 981.45 2,208.33 1,808.19 © 2014 Argus Media Ltd www.argusmedia.com Page 10 Argus Nefte Transport — Q&A/News Consolidate, or be consolidated Railtransholding is in merger talks with several big firms. Chairman, general-director and main shareholder Sergei Shpak outlines the firm’s plans Are you a railcar operator or owner? Of 25,000 railcars, we operate about 9,000 — mainly open wagons and goods vans — and lease the rest. We do not have direct deals with refineries and lease tankcars to all the large operators, including Transoil, Neftetransport, Neftetransservice and ISR Trans. What are your expansion options? The 25,000 railcars we have are not enough. Only five large players and local firms working on separate routes will survive the next few years. With the economy unlikely to improve this year or in the immediate future, the market will consolidate over the next 18 months. We would like to be one of those firms doing the consolidating rather than the one being taken over. We are in talks with several companies, but concrete agreements have yet to be reached. In terms of development options, in addition to mergers and takeovers, other options are acquiring new railcars that we can use for customers with a long-term outlook and proper freight base, or the acquisition of used, cheap railcars that we could then offer for sale. Describe today’s market situation? The main trend is lower lease rates and volumes. With oil transportation, the situation is worse than with bulk commodities because volumes are diverted to rivers once the navigation season begins. The situation this summer is worse than usual, with volumes down much more significantly. The situation with coal is better because coal transportation is more expensive than production. But crude and product prices are stable — effectively, we give away our profits to the oil companies. Argus estimates lease rates for oil and gasoline tankcars at Rbs800-860/d ($23/t), excluding VAT. Is this right? There are also higher or lower rates. They are currently lower, averaging Rbs700/d, but it depends on the contract. Rates rise in autumn and fall in spring. The average is probably Rbs800/d, excluding VAT. The LPG tankcar market is tight, but more stable. We estimate the cost of leasing an LPG tankcar at Rbs1,400-1,500/d, and open wagons at Rbs500/d, excluding VAT. How are your finances, given that you used loans to buy the railcar fleet? Mainly loans, but we also invested our own funds. We agreed with most banks and leasing firms on interest rate reductions and where we failed to agree, we bought out the railcars. When the lease payment exceeds revenue, and the bank makes no concessions, it is easier to buy the car, even at an inflated price. What about plans to limit service life extensions for old rolling stock? This could have a positive effect. Of course, this is not a panacea, but railcar write-offs are needed to improve the economics of the sector. Railtransholding fleet statistics Formed in 2010, Railtransholding’s fleet consists of 25,000 railcars, with open wagons making up 48pc, oil and gasoline tankcars 19pc, LPG tankcars 7pc, box-cars 11pc, platforms 6pc and hopper cars 9pc. About 2,000 of its railcars were produced by the Azovmash plant at Mariupol in eastern Ukraine, and the rest by Russia’s Altaivagon, Ruzkhimmash in Russia’s Mordovia republic, Uralvagonzavod in Russia’s Sverdlovsk region, and at Railtransholding’s own Novozybkovsky plant in Russia’s Bryansk region. About 600 railcars are deployed in Kazakhstan, with this number set to rise to 1,000. July 2014 Bunker fuel prices down at river ports The price of low-viscosity marine gasoil (MGO) for river-sea tankers fell at southern ports by Rbs200-800/t ($5.71-22.83/t) in June, reflecting a product surplus. “Customers are being very choosy at the moment and they often refuse to buy if there is something that they do not like about the fuel,” according to a source at one company involved in bunkering operations. Prices dropped particularly sharply at the Azov Sea ports of Rostov-on-Don and Azov, where the upper limit of the price range was down by Rbs800/t. At the Russian Caspian port of Astrakhan, the cost of low-viscosity MGO — with a sulphur content of 0.20.4pc — fell by Rbs200-500/t to Rbs28,300-28,500/t. Gazprom has started selling MGO with a sulphur content of less than 0.1pc for Rbs29,500-30,000/t, although there has not been much demand for the grade so far. “Few companies buy this grade because the International Convention for the Prevention of Pollution from Ships (Marpol) [which governs marine fuel quality] does not apply in the region. Only the owners of new vessels are buying it,” one market participant says. At the port of St Petersburg, the price of low-viscosity 0.2-0.4pc sulphur MGO produced at Tatneft’s Taneko plant at Nizhnekamsk, at Bashneft’s three Ufa refineries and at plants owned by Rosneft increased by Rbs500-700/t to Rbs29,000-29,500/t. Fuel from the St Petersburg tankfarm can cost up to Rbs30,000/t reflecting the higher cost of shipping fuel to the port, while Gazprom’s 0.1pc MGO can cost Rbs30,500-31,000/t at the port of St Petersburg. Bunker fuel costs at Russian ports Rbs/t PortType Jun May Rostov/Azov MGO 28,000-29,000 28,000-29,800 Volgograd MGO 27,900-28,400 27,900-28,400 Yaroslavl MGO 28,000-28,500 27,500-28,000 St Petersburg MGO 29,000-29,500 28,300-29,000 Astrakhan MGO 28,300-28,500 28,500-29,000 Rostov Fuel oil 14,400-15,100 14,400-15,100 *with deferred payment © 2014 Argus Media Ltd www.argusmedia.com Page 11 Argus Nefte Transport — River terminals July 2014 Stagnant waters Russia announced plans last year to boost freight flows along inland waterways and eliminate bottlenecks on the Volga-Don and the Volga-Baltic systems. But river terminal owners took no notice and have yet to launch any major terminal upgrades Russia’s inland waterway terminals have seen little, if any, improvements over the past five years. Market participants point to the high standard of safety at existing tankfarms, which undergo maintenance between each navigation season, as well as the perennial uncertainty over the stability of river products exports. Only last month, shipments were down sharply on the year because of extremely shallow water on the Volga-Baltic waterway, while overall deliveries during the 2013 navigation season rose by 1.3mn t from 2012 to 12.69mn t. And the fact that firms have fewer and fewer dirty product cargoes to ship as more and more secondary processing capacity comes on line at Russia’s refineries has only added to the uncertain outlook. Syzran terminal Syzran Syzran refinery Railway Saratov reservoir Berths Rosneft’s Samara hub The Samara terminals of Kashpir, Syzran, Samara, Oktyabrsk and Yablonevy Ovrag form Russia’s largest inland waterway hub. There are two tankfarms in the Samara region — at the Samara and Kashpir terminals — and these receive fuel oil, gasoil, marine gasoil and other products bound for export from Rosneft’s Kuibyshev, Novokuibyshev and Syzran refineries. All these products are shipped from the refineries by pipeline, with 500,000 t/month then delivered onwards by river to floating storage in the Kerch strait. Kashpir tankfarm receives fuel oil from the Syzran refinery. The plant sits on the right bank of the Volga river, north Samara terminal River Volga Berth Berth Pipelines Tankfarm To Samara station To Kuibyshev and Novokuibyshev refineries Kashpir station Kashpir of Kashpir village, near Kashpir railway station. The tankfarm is on the shore of the Saratov reservoir and consists of several tanks of different sizes with an overall capacity of 80,000t. These include several tanks that were previously used for crude and that have been converted for fuel oil. The Kashpir terminal’s two berths — one is 74m long and the other is 83m long — are connected by pipeline to Kashpir tankfarm. The water depth is 5m at the berth wall and the dirty product loading rate is 570 t/hr. Some 100,000-130,000 t/month of products from the tankfarm are loaded onto river tankers during the navigation season, and about 200,000 t/month is loaded onto rail tankcars during the rest of the year, a Syzran source says. Clean products are also supplied by truck to the Samara and Ulyanovsk regions. The Samara tankfarm receives products from the Kuibyshev and Novokuibyshev refineries. The terminal, which currently only loads fuel oil, is operated by Samara-Terminal, owned by Neft-Aktiv, which is part of Rosneft subsidiary RN-Trade. All the tankfarm’s dirty product tanks, with a combined capacity of 40,000t, are used for fuel oil. Three more 9,000t tanks, initially supposed to handle fuel oil, were mothballed a few years ago. The terminal has two berths, each around 80m long, and the water depth at the berth wall is at least 4m. Neither the Kashpir nor the Samara terminal has been upgraded, and no such plans are currently in place. But all equipment undergoes maintenance each year to make sure that tankfarms comply with operating standards and safety requirements. © 2014 Argus Media Ltd www.argusmedia.com Page 12 Argus Nefte Transport — River terminals Sabi terminal Oktyabrsk to Okty yzran Oktyabrsk nd S tion a sta abrsk rm fa Tank July 2014 charge 64 railcars at a time. There are three 10,000m³ crude tanks, a 10,000m³ gasoil tank, and a 3,000m³ clean product tank. These can all be used for different products, as and when the need arises. The terminal’s single berth has a water depth of 4.5m at the wall and the loading rate is 800 t/hr. The terminal used to belong to Yukos, and was used for TNK-BP crude exports before a fire on Anship’s Viktoria in 2003. In 2004, Itera bought the terminal, which was out of action at the time, and started repairs in 2005. The facility came back on line in 2007, but was little used because Itera struggled to find customers. Berth Mid-Volga olga River V Independent terminals in the Samara region There are also three terminals controlled by independent operators in the Samara region. Two are located in Oktyabrsk city and the third is in Yablonevy Ovrag village, to the west of Zhigulevsk. Forteinvest, operator of the Orsk refinery, and Oil Energy Trading both export vacuum gasoil (VGO) cargoes through Oktyabrsk, while Rosneft exports VGO through Yablonevy Ovrag. Product arrives at the terminals by rail, before being loaded onto tankers. Sabi Sabi operates a terminal in Oktyabrsk. Products head by rail to Oktyabrsk station, 20km from Syzran. The terminal used to load fuel oil as well as VGO, but now mainly loads the latter. The tankfarm has two railracks. One is a 16-car doublesided rack with on-spot loading equipment that enables operators to switch quickly between different products. The other is a 17-car double-sided rack with steam heating. The tankfarm’s 11 tanks have a combined capacity of 46,000m³. Five pipelines run the 700m or so from the tankfarm to the berth. The water depth at the berth wall is 4-5m. MND-Samara The MND-Samara terminal, also in Oktyabrsk, was bought by the Czech Republic’s MND group from Itera in July 2011. The tankfarm is on the right bank of the Volga and occupies 18 hectares. Until 2009, the terminal received Russneft crude for onward delivery to the Orsk refinery by rail. It now receives around 30,000 t/month of products from nearby refineries and mini-refineries, mainly low-viscosity marine fuel and small quantities of fuel oil for supply to the domestic and bunkering markets. Design capacity for loading rail tankcars at the terminal is 150,000 t/month (1.8mn t/yr), while a further 200,000 t/month (1.6mn t/yr) can be loaded onto tankers during navigation season. The terminal has a double-sided railrack that can dis- The Mid-Volga oil terminal is in Yablonevy Ovrag, near Otvaga rail station. The facility’s former manager, Trans Marine Logistic, took full control at the end of 2013 following many changes of ownership and disrupted operations. The Mid-Volga terminal’s facilities include a doublesided 20-car railrack and two 5,500m³ tanks. It can load 55,000 t/month — some 360,000-370,000t during the seven months of the navigation season. Trans Marine Logistic plans to use the terminal in winter to load product delivered by rail and truck from the Samara region’s numerous mini-refineries. Products can be loaded on 5,000t tankers at the berth, where the water depth at the wall is 5m. Forteinvest exported 275,000t of VGO through the terminal last year. This year, the complex started loading VGO from Rosneft’s Achinsk refinery, and last month it received VGO from Rosneft’s Novokuibyshev refinery during maintenance. Loadings during navigation season were initially expected to total 300,000-320,000t, but the recent fire at Achinsk may have prompted a rethink. A spokesman says the terminal is now only receiving products from Novokuibyshev and that there is a lot of spare capacity. There are plans to expand the tankfarm. “We have three foundations remaining from the fuel oil tanks and we plan to use them for new tanks with a combined capacity of 15,000m³. This will not boost loadings, but it will help us to provide segregated storage for products with different specifications, and to expand the range of products that we can load,” Trans Marine Logistic general director Marina Yatsenko tells Argus. Rosneft’s Saratov infrastructure Last year’s purchase of TNK-BP gave Rosneft ownership of the Saratov refinery. Rosneft started exporting Saratov products in October last year and supplies are currently running at about 350,000 t/month. Saratov products load at two terminals. VGO is shipped from the refinery’s berth, and fuel oil is loaded from a tankfarm in the village of Uvek. Loadings are controlled by Rosneft subsidiary Saratovnefteprodukt. The terminal started loading gasoil two years ago after dismantled equipment was reassembled. It loads about 80,000 t/month of gasoil, market participants say. Saratov has an 80m berth, while Uvek tankfarm has three © 2014 Argus Media Ltd www.argusmedia.com Page 13 Argus Nefte Transport — River terminals Saratov refinery and terminal July 2014 Nizhniye Mully terminal Berth River Volga Berth Knyazevka station Pipelines Saratov refinery Berth Nizhniye Mully River Volga Pipeline Railway Uvek station Pipeline Pravoberezhny Uvek tankfarm Tankfarm Vrag. Lukoil-Nizhegorodnefteorgsintez leases the terminal to ship fuel oil from the Nizhny Novgorod refinery. The tankfarm received 1.4mn t of fuel oil last year, up by 400,000t on 2012. Products head from the refinery along 8km of pipelines to the tankfarm, which has 15 tanks. Fuel oil storage capacity is 25,000t and the facility can also store 35,000t of clean products. There is currently plenty of spare storage capacity. Product heads to the two berths by pipeline. Berth Nizhniye Mully Lukoil remains one of Russia’s biggest river product exporters. It loads products from its Nizhny Novgorod refinery at the Kstovo terminal, and products from Perm at the Nizhniye Mully terminal. Products from its Volgograd refinery are loaded at the Tatyanka terminal. Kstovo tankfarm, owned by Lukoil-Volganefteprodukt, is 20km south of Nizhny Novgorod, in the village of Veliky Lukoil supplies fuel oil and VGO from its Perm refinery by river through Nizhniye Mully tankfarm, 20km south of Perm, on the left bank of the Kama river. Just a few years ago, the tankfarm was only used to load fuel oil, but most of its equipment has now been converted for VGO. Loadings totalled 518,000t last year, well up on 2012, when the tankfarm loaded 341,000t. VGO accounted for 498,000t, and fuel oil and gasoil the rest. The terminal can hold 18,000t of clean products at a time and 13,000t of dirty products. The two berths have a water depth of at least 4m at the wall. The dirty product loading rate is 500 t/hr and the clean product rate is 550 t/hr. Kstovo terminal Tatyanka berths— berth 3 is for loadings, berth 2 is a refuge harbour, and berth 1 is currently idle. There are 11 tanks at Uvek. Kstovo Berth River Volga Berth Pipelines Products from Volgograd refinery are exported by river through a tankfarm at Tatyanka-2 village. About 1.8mn t of products —mainly VGO and fuel oil, but also gasoline, heating oil and lubricants — passed through the tankfarm to southern destinations last year. The facility can load a total of 3.2mn t during navigation season, so last year it was only operating at a little over half its capacity. The tankfarm can hold 120,000t of dirty products and 150,000t of clean products. Dirty products are loaded at berths 1 and 2, and clean products at berth 3. Ufa Tankfarm Kstovo station Veliki Vrag village Bashneft shipped 1.4mn t of VGO and fuel oil from its Ufa plants by river last year, against 687,000t of fuel oil in 2012. Most loadings are handled by the facilities at the complex’s Novoil refinery because the berths of the Ufa plant are partly dismantled and the Ufaneftekhim plant’s berths © 2014 Argus Media Ltd www.argusmedia.com Page 14 Argus Nefte Transport — River terminals Tatyanka terminal Ri ve Tatyanka Tatyanka station rV olg a To Volgograd Berths Pipeline July 2014 product tanks, although only 10 of the latter are in use. The berths are linked to the tankfarm by three 150-450m pipelines. Products are loaded at two berths and the water depth at the wall is 5m. One berth loads dirty products, and the other both dirty and clean products. The berths can accommodate 5,000t vessels with a draught of 3-4m. Trusovo Tankfarm Tatyanka South station Volgograd refinery have been mothballed. A source at Ufaneftekhim noted that in view of the gradual reduction of river supplies from the refineries, it is uneconomic to use three berths, so a decision to decommission two of them was made in 2006. Nizhnekamsk Nizhnekamsk terminal is on the left bank of the Staraya Kama river and it can load dirty and clean products. The terminal loads VGO, and less often clean products for the domestic market. Fuel oil is supplied to floating storage in the Kerch strait and Gulf of Finland. The outlet can load 60,000 t/month and loaded 1.5mn t of VGO last year. The fuel oil railrack can handle 26 railcars at a time, while a second rack can load all types of product and handle 24 tankcars. The length of the access tracks is 10.5km. There are 13 clean product tanks and 11 3,000m³ dirty Lukoil products are transferred to river vessels at the Astrakhan region at Trusovo tankfarm 5. This can handle all types of product, including gasoline, bunker fuel and lubricants as well as crude. Product can be loaded from rail tankcars onto river vessels and vice-versa. In 2003-04, the terminal handled Lukoil crude exports from the Volgograd refinery bound for Iran. The facility can handle 1.2mn t/yr and has a double-sided railrack that can load or unload 37 tankcars at a time. The tankfarm can store 84,000t of liquids. There are four berths with a total river frontage of 400m. Berth 1 serves vessels of up to 250t, berth 2 can take any kind of river-sea vessel and handle any type of cargo, berth 3 is used for bunkering and berth 4 is for fuel oil cargoes. The loading rate is 400 t/h. Astrakhan is also home to Transoil-Terminal, built in 2007 at Narimanov. Currently, this is out of action and the owners are seeking customers. It can handle 960,000 t/yr. The facility has three 5,000m³ storage tanks and an 80m³ underground unit to be used in the event of a tankcar malfunction or accident. A double-sided railrack can load or unload 72 railcars simultaneously. The berth can accommodate vessels with a length of 150m, a 4m draught and deadweight of up to 6,700t. Useful contacts Kashpir terminal Syzran refinery 446009, Samara region, Syzran, Astrakhan st., 1 Tel: +7 (8464) 98-81-10 Fax: +7 (8464) 98-81-22 Email: sekr@snpz.rosneft.ru Samara terminal 446014, Samara region, Syzran, Neftebaznaya st., 1 Tel/fax: +7 (846) 4997277, +7 (846) 6430366 Email: snn@chief@szr_nb Sabi terminal 224240, Samara region, Oktyabrsk, Proletarskaya st. Tel: (84646) 2–70–59 Fax: (84646) 2–70–60 Email: secretar.sabi@yandex.ru Saratov terminal Saratov refinery Address: 410022, Saratov, Bryanskaya st., 1 Tel: (8452) 47-30-65, 92-07-47 Fax: (8452) 47-31-38 Uvek Saratovnefteprodukt Saratov, Uvek village Tel: (8452) 92-28-21 Fax: (8452) 92-28-33 Kstovo terminal 607650, Nizhny Novgorod region, Veliky Vrag village, 21 Lukoil – Volganefteprodukt Tel: (831) 278-99-00 Fax: (831) 278-99-01 Email: info@lukoil-volga.ru MND Samara terminal 443099, Samara, Alexey Tolstoy st., 92 Tel: (846) 310–61–50 Fax: (846) 310–24–92 Email: mnd-samara@mnd.eu Mid-Volga terminal 445350, Samara region, Zhigulevsk, Pobedy st., 6, office 203 Tel: 8 (4862) 9-23-05, 3-27-13 Fax: 8 (4862) 2-25-36 Nizhniye Mully terminal Lukoil-Permnefteprodukt 614068, Perm, Lenina st., 77 Tel: (342) 235-87-97, 235-87-92; Fax: (342) 236-35-59 Email: omir@pnp.lukoil.com Volgograd terminal 400051, Volgograd, Vilyanskaya st., 29 Tel: (8442) 96-58-52 Fax: (8442) 96-58-52 Lukoil–Volgogradneftepererabotka 400029, Volgograd, 40 let VLKSM st., 55 Tel: (8442) 96-30-01, 96-35-99 Fax: (8442) 96-34-58, 96-34-35 Email: refinery@vnpz.lukoil.com Nizhnekamsk terminal 423570, Tatarstan, Nizhnekamsk, Industrial Area 2, P.O. Box 78, post office 11 Tel: +7 (8555) 440244 +7 (8555) 440248 Fax: +7 (8555) 319896, +7 (8555) 375793 Bashneft terminals in Ufa 450077, Russia, Ufa, Carl Marx st., 30, bldg. 1 Tel: (347) 261-61-61, 235-84-11 Fax: (347) 261-62-62 Email: info_bn@bashneft.ru Novoil refinery 450037, Russia, Bashkiria, Ufa, Mira st., 14 Tel: (8 347) 235-85-60 Fax: (8 347) 235-83-10 Tank farm 5 (Trusovo) 414000, Astrakhan, Admiralteyskaya st., 1 Tel: (8512) 40-28-00, 40-28-02 Fax: (8512) 40-27-20 © 2014 Argus Media Ltd www.argusmedia.com Page 15 Argus Nefte Transport — Rivers July 2014 Troubled waters terminals rose by 89,200t to 457,400t. Supplies through Product exports and transit along Russia’s inland waterways Yablonevy Ovrag, where Rosneft supplied VGO from its fell by 355,900t on the year to 1.69mn t last month, reflecting Achinsk and Novokuibyshev refineries in April-May, fell by lower shipments from Bashneft’s Ufa refineries and Tatneft’s 35,300t to 18,400t, reflecting last month’s fire at Achinsk. Taneko plant at Nizhnekamsk, low water levels on the VolgaTatarstan’s Chistopol terminal began loading products in Baltic route, and bottlenecks at locks on the Volga-Don. June, when Mid-Volga’s Volgoneft-147 took about 4,000t of Loadings at terminals in Ufa in Bashkortostan, Nizhgasoil to floating storage at Kerch. The cargo was owned by nekamsk in Tatarstan and Kstovo in Nizhny Novgorod fell Tatneft affiliate Chistopolnefteprodukt. A Mid-Volga spokesparticularly sharply. Supplies from Ufa — all of which conman says shipments are likely to be a regular fixture, but that sist of vacuum gasoil (VGO) this year after Somitekno Chistopolnefteprodukt is unlikely to ship more than one cargo diverted fuel oil to the rail network, which it says it cheaper a month because of heavy Volga-Don traffic. — fell by 77,900t to 176,300t. Nizhnekamsk loadings fell by 126,200t, River shipping costs Destination Rbs/t reflecting lower VGO exports from Taneko Delivery costs Southbound after a hydrotreater came on line. A nearFreight rates for time chartered 5,000t Samara-Turkey 1,880-2,400 50pc cut in fuel oil supplies from Lukoil’s river-sea tankers rose by 20pc from June Samara-Kavkaz 1,344-1,850 Oktyabrsk-Kavkaz 1,340-1,700 Nizhny Novgorod plant through Kstovo last year to $8,000-9,500/d, after Rosneft Saratov-Kavkaz 1,200-1,660 was more unexpected. Market participants awarded tenders for 2014-16. Volgograd-Kerch 1,500-1,600 blame low water levels at Gorodetsky lock “The first tender winners committed to Turkmenbashi-Black Sea $75-100/t Northbound on the Volga-Baltic canal, which now avership from Samara to the Kerch strait at Ufa-St Petersburg 2,600-2,800 age 2.75m for three hours a day, and 2.05m Rbs1,300/t, with the most recent deals Nizhnekamsk-St Petersburg 2,050-2,250 the rest of the time. Lukoil has also now closed at almost Rbs1,800/t — an absoPerm-St Petersburg 2,400-2,550 Nizhny Novgorod-St Petersburg 1,500-1,600 finished shipping fuel oil accumulated in lutely merciless move,” one exporter says. Yaroslavl/Rybinsk-St Petersburg 1,100-1,300 winter at the Gorky automotive plant’s He notes that 5,000t river-sea tankers are —market participants tankfarm. No product was shipped from the used to ship products from Azov Sea ports, tankfarm in June, against 35,000t in May. mainly Taganrog and Azov, year-round, and that rates fluctuSupplies from Lukoil’s Volgograd and Perm plants fell. ate widely with the season — falling in winter when navigaBaltic-bound VGO loadings by Somitekno at Nizhniye Mully tion ends and there is a tonnage surplus, and rising in in the Perm region fell by 20,500t to 67,300t, also because of summer. The difference can be $1,500-2,000/d. low water levels at Gorodets. Loadings at Tatyanka, mostly One broker says time charter freight rates for older tankVGO, in the Volgograd region fell by 38,000t to 215,100t. ers are currently $6,500-7,000/d, with new tankers commandTraders report congestion at Volga-Don locks. “The round ing $9,500/d. Tankers can also be leased on a bareboat basis, trip time from the mid-Volga region to storage tankers in the without crew. “This happens when an investor has financed Kerch strait now exceeds 20 days, up from 18 days last year construction of several vessels, but is not ready to operate and 13 days five years ago. Tankers can make no more than them on its own,” one market participant says. Bareboat rates one and a half round trips a month,” a shipowner says. are currently assessed at $6,000/d for new vessels. Gasoil, fuel oil and VGO exports from the Saratov refinery But some bareboat charters include time charter condifell by 30,000t on the year last month to 287,900t as a result. tions whereby the vessel owner acts as commercial and techCombined loadings at the Kashpir, Syzran and Samara nical manager. This can push rates up to $7,000-8,000/d. New fleet arrivals Two new vessels arrived last month. Kurgannefteprodukt, owned by Rahman Khalilov, took delivery of the Lady Leila from Nizhny Novgorod’s Krasnoye Sormovo yard. The RST 27 vessel will ship fuel oil from Taganrog. It is thought to have cost $16mn, financed by Alfa-Leasing, which is leasing the tanker to Kurgannefteprodukt. In October, Kurgannefteprodukt expects to receive a second tanker of this type and could order two more. On 10 July, Universal Cargo Logistics Holding’s (UCLH) Okskaya yard in the Nizhny Novgorod region launched the RST 54 tanker Balt Flot 1, built for St Petersburg’s BF Tanker. Registered in April, BF Tanker expects to receive 10 5,600t RST 54 tankers that will enter service next year. Construction of Balt Flot 1 began on 16 December. The vessel is due to arrive in September, following trials. It is expected to be deployed under a long-term contract with Litasco. BF Tanker’s general-director — former Litasco boss Sergei Chaplygin — says the RST 54 tankers are “unique because they will maximise the utilisation of container ships and other vessels, including the possibility of transportation of large-size equipment weighing up to 4,500t, which is particularly important for shipowners during refinery maintenance”. VF Tanker, part of UCLH, initially planned to operate these vessels after ordering five this year, but BF Tanker took over the order. State-controlled leasing firm GTLK is financing construction for BP Tanker. © 2014 Argus Media Ltd www.argusmedia.com Page 16 Argus Nefte Transport — News July 2014 First-half product shipments surge Total product exports from the FSU hit 87.2mn t in the first half of 2014, compared with 77.4mn t in the same period last year. Fuel oil exports were up by almost 8pc on the year at 41mn t, although shipments of the product from Baltic ports were down on the year at 24mn t, compared with 25.5mn t. The shift away from outlets in the Baltic states to Russia’s Ust-Luga continues, with exports through the latter up by 1mn t to 7.5mn t. Estonia’s Tallinn handled just 5.4mn t of fuel oil in January-June, compared with 6.4mn t in the same period last year, while exports through Latvia’s Ventspils dropped to 724,000t from 1.1mn t. Until the start-up of the Ust-Luga terminal in 2011, these outlets handled significantly higher quantities of fuel oil, with Tallinn loading 9.7mn t in the first half of 2010 and Ventpsils handling 1.5mn t. Exports of fuel oil from the Black Sea region were up by 45pc at 15.6mn t, largely thanks to an increase in river shipments. Exports though Novorossiysk were little changed on the year, while supplies from Tuapse rose by 62pc to 2.6mn t, largely thanks to increased supplies from Rosneft’s recently expanded Tuapse refinery. Gasoil exports hit 25.5mn t in the first half of this year, compared with 22.1mn t in the same period of 2013. Shipments of 10ppm sulphur diesel through Russia’s Primorsk hit 5.7mn t, an increase of 23pc on January-June 2013, thanks to increased output of the grade by Russian refineries. Gasoil exports through Latvia’s Ventspils fell to 5.3mn t from 6.7mn t last year. But shipments through Riga increased to 1.5mn t from just 647,000t during the first half of 2013. This follows the signing of a one-year loading agreement for 2014 between Lukoil trading arm Litasco and Riga’s Naftimpeks terminal. Black Sea gasoil exports hit 6.3mn t, up by 37pc on the year. There was a big jump in shipments from Tuapse, where exports reached 1.6mn t, compared with just over 1mn t in the first half of 2013. Shipments from Novorossiysk were also up significantly, rising by 36pc to 4.3mn t. Naphtha exports on the rise Naphtha exports hit 10.3mn t in the first half, largely as a result of higher production in Russia, primarily from Novatek’s Ust-Luga condensate splitter and from Rosneft’s Tuapse refinery. Ust-Luga is Russia’s largest export outlet for naphtha and handled 4.6mn t of the product in January-June, compared with just 210,000t in the same period of last year. This reflects increased exports through Novatek and Sibur’s terminals, which entered operation in May and June 2013, respectively. Rosneft, Gazpromneft, Gazprom, Lukoil, Sibur, as well as the Taif and Taneko refineries at Nizhnekamsk and several independent plants, have been supplying the product to Ust-Luga this year. Novatek exported 1.5mn t of naphtha through its terminal in January-June. The company sells naphtha under longterm and spot agreements to consumers in Asia-Pacific and Brazil. The growth of naphtha supplies to Ust-Luga resulted in reductions or halts of exports through other Russian ports, such as Kaliningrad, Baltiysk and Svetly — all in the Kaliningrad region — as well as Murmansk, Arkhangelsk and Vitino. The Kaliningrad region terminals, for example, handled just 545,000t in January-June this year, compared with 1.4mn t in the same period last year. The Tuapse refinery increased naphtha exports to 781,000t this year from 429,000t in January-June 2013, following an expansion of the plant’s capacity. Overall naphtha exports through the port of Tuapse hit 2.2mn t in the first half, compared with 1.5mn t in the same period last year. In addition to the Tuapse plant, the Ilsky, Afipsky, Volgograd, Krasnodar and Samara refineries all deliver naphtha to Tuapse. Litasco extends Klaipeda deal Lukoil trading arm Litasco has signed a new 12-month agreement with the Klaipedos Nafta (KN) terminal at the Lithuanian port of Klaipeda covering up to 2.7mn t of product loadings. Loadings under the new deal will begin in September. Litasco signed a two-year agreement with KN in 2012 covering 4mn t of dirty products, but this expires in August. Litasco plans to use KN to export fuel oil, mainly from Belarus. But it could also supply Russian product, with one market participant noting that Litasco plans to take part in Rosneft’s autumn tender for the sale of fuel oil from Russia’s 340,000 b/d Ryazan refinery and the 360,000 b/d Yaroslavl plant that Rosneft co-owns with Gazpromneft. Fuel oil from Lukoil refineries is only likely to head to Klaipeda if Lukoil’s Vysotsk terminal runs out of capacity, or in the event of rail disruption caused by cold weather. Lukoil refineries, mainly the 365,000 b/d Nizhny Novgorod and 290,000 b/d Perm plants, supplied about 2.3mn t of fuel oil to Vysotsk between November 2013 and April 2014, compared with almost 3mn t between November 2012 and April 2013, rail freight forwarding firms say, reflecting lower production. In May-October, product from both refineries is exported along the VolgaBaltic waterway and sold to Litasco. Klaipeda product exports fell to 2.44mn t in January-June from 3.02mn t in the same period last year. Litasco shipped 783,000t of fuel oil, mostly from Belarus, down from 911,500t. Orlen Lietuva, the operator of Lithuania’s 263,000 b/d Mazeikiai refinery, is another important KN customer. The company exports gasoline, low-sulphur diesel and fuel oil through the terminal. Trading firms Vitol, Gunvor and Trafigura buy products at KN. Mazeikiai shipments through KN fell to 1.58mn t in January-June from 1.77mn t in the same period last year, reflecting lower crude runs. © 2014 Argus Media Ltd www.argusmedia.com Page 17 Argus Nefte Transport — Product exports July 2014 FSU product exports, June ’000t Fuel oil Gasoil Jun ±May ±Jun13 Baltic and 3,910 -160 YTD -352 24,055 Jet kerosine Jun ±May ±Jun13 2,533 70 Gasoline YTD Jun ±May ±Jun13 YTD 205 16,047 24 VGO Jun ±May ±Jun13 -34 -42 180 304 139 -40 YTD -103 2,516 Naphtha Jun ±May ±Jun13 306 -208 YTD Jun ±May ±Jun13 -32 3,604 1,158 -351 YTD 396 7,358 northern ports Ventspils 70 -50 -136 724 Klaipeda 238 -42 -76 1,432 Tallinn 644 -13 -436 5,355 Primorsk Sillamae 791 158 63 959 61 -108 5,269 -34 0 34 -2 -8 535 0 0 0 0 0 10 0 0 0 -19 120 5,687 22 1,141 70 27 13 700 -76 -102 508 34 33 349 -19 10 429 St Petersburg 524 -147 -77 3,651 130 -106 Riga 164 -60 43 1,081 244 1 217 1,515 0 0 6 -25 -47 959 0 -23 51 5 -7 5 100 0 0 0 0 0 0 85 40 -16 393 0 -42 140 0 0 0 0 -6 0 0 0 5 -27 Kaliningrad Arkhangelsk Liepaja 61 55 -81 61 352 -20 72 0 0 78 0 0 0 -5 8 698 0 -15 18 73 -135 95 117 13 -41 1,000 0 0 0 0 0 0 13,97 0 0 0 0 -66 35 63 -4 -44 545 72 1 -94 477 30 1 -63 222 179 -32 60 870 -35 0 Murmansk 135 105 17 450 Vysotsk 593 -15 58 3,401 0 0 0 0 1,481 81 274 7,481 706 -297 134 42 -227 285 Vitino/Kandalaksha Ust-Luga Volga-Baltic 256 663 -60 1,476 0 24 108 349 68 -76 686 581 4,528 river shipments Black Sea total Novorossiysk 2,643 -270 658 15,572 304 6,318 4,029 772 -25 269 4,329 311 2,587 276 -7 129 1,557 66 1,219 0 0 177 -35 -115 140 0 -14 0 0 -35 0 0 0 25 560 -147 -97 Tuapse 571 117 Odessa 189 6 Batumi Kulevi Ilichevsk 1,078 -144 0 0 0 0 0 0 -82 405 5,674 30 -112 -80 200 Pivdenne/Yuzhny 0 0 0 Kavkaz 0 0 0 0 0 0 Sevastopol 0 -87 225 0 0 30 Taganrog 0 0 0 Kerch 1,113 Nikolayev 0 0 0 Taman 210 -129 210 1,698 Volga-Don 489 -32 -141 1,266 186 -35 -30 0 -30 -30 0 0 60 0 60 502 22 0 0 0 67 67 12 715 0 0 0 67 67 67 575 0 0 0 0 0 0 0 -55 0 0 0 0 0 0 30 0 0 110 10 22 34 531 23 0 0 14 0 0 0 0 0 382 26 85 2,163 382 26 115 2,163 0 -30 0 0 0 0 0 0 0 122 -19 -21 717 114 -18 30 695 0 -6 0 8 -1 -45 22 0 15 152 1,364 river shipments Pacific total 158 56 -131 868 352 29 49 2,385 Nakhodka/Vostochny 158 56 69 426 289 0 119 1,812 Vladivostok 0 -18 11 33 33 -12 250 Vanino 0 -182 431 -2 0 106 Slavyanka 0 0 0 0 0 0 0 0 0 0 0 14 -24 -24 0 0 0 0 0 30 -2 -58 217 Overland 19 -13 -19 259 67 18 14 276 -2 0 12 6 -5 149 0 -8 China 19 -13 -17 244 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Finland 0 -2 0 0 0 5 0 0 0 0 0 0 0 -4 255 0 -8 15 Hungary 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Moldova 0 0 0 Mongolia 0 0 15 Poland 0 0 0 67 2 0 0 0 0 2 4 18 14 271 2 -2 -2 8 0 0 0 0 0 26 0 0 -4 1,286 0 0 0 0 0 0 0 0 6 -5 149 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 26 Romania 0 0 0 0 0 0 0 0 0 0 0 0 0 0 20 0 0 0 Slovakia 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1011 0 0 0 -71 -42 252 Total All products 6,864 -345 -71 41,039 14,351 -926 570 87,151 4,216 -62 572 25,528 26 330 -34 -108 2,679 1,253 -50 -124 7,654 1,662 -364 45210,252 *includes loadings from floating storage tankers, including volumes delivered along the Volga-Don waterway © 2014 Argus Media Ltd www.argusmedia.com Page 18 Argus Nefte Transport — Infrastructure map Argus Nefte Transport — Infrastructure map July 2014 Refinery City/town Port Oil pipeline Oil pipeline under construction First Murmansk terminal halts exports. See p3 Kara Sea Norway Varandey ei nis Ye Barents Sea Murmansk Noviy Port Gasoil diverted to Arkhangelsk. See p2 Vitino SWEDEN July 2014 Transneft considers Z-P pipeline capacity cut. See p4 Nyda Usinsk Ob White Sea Arkhangelsk Se rn Surgut in a RUSSIA Vysotsk St Petersburg Kirishi Ust-Luga Yakutsk Nizhnevartovsk Primorsk Ob Major Ust-Luga works planned. See p1 Mari-El to resume exports. See p6 Yaroslavl Perm a m Far east rail expansion on track. See p8 a ar Ang Ka To b Nizhny First Murmansk terminal Novgorod halts exports. See p3 Skovorodino im Ish ei Mohe Lake Baikal Komsomolsk sh Ural Irty Vol ga Ust-Kut is Yen Dnepr Oka L AT V I A ol Tyumen Yaisky plant to cut product Krasnoyarsk Riga Yekaterinburg exports. See p6 Mazeikiai Butinge Nizhnekamsk Achinsk Kazan Lithuania Moscow Klaipeda Taishet Polotsk Novopolotsk Novosibirsk Smolensk River terminals survey. Vilnius Omsk Kaliningrad Ufa Ryazan See pp12-15 Litasco extends Klaipeda Samara Minsk Gdansk deal. See p17 BELARUS Gomel Pavlodar Angarsk Syzran Unecha Orenburg Irkutsk Warsaw Mozyr Saratov Astana POLAND Orsk Azov terminal to load Don Kiev gasoline. See p4 Bunker fuel prices down at L’vov Brody K A Z A K H S TA N UKRAINE river ports. See p11 Drogobych Atasu Kremenchug Lisichansk Dn Dnestr Volgograd Nadvornaya ep r Chisinau RostovHUNGARY on-Don MONGOLIA Kherson Atyrau Azov Tikhoretsk R O M A N I A Odessa Pivdenne Sea Trans-Caspian costs CROATIA Krasnodar Caspian rise for Kazakh Aral Sevastopol Sea Sea Constanta crude. See p5 Dushanzi BOSNIA Grozny Danube Almaty Tuapse Novorossiysk Aktau Bishkek SERBIA UZBEKISTAN Urumqi Chimkent Black Sea Poti GEORGIA BULGARIA Burgas Makhachkala Supsa Tbilisi KYRGYZSTAN AZERBAIJAN MACEDONIA First Ryazan fuel oil for Batumi Tashkent Novorossiysk. See p5 Baku ALBANIA ARMENIA Fergana Turkmenbashi TURKEY Bukhara Ankara T U R K M E N I S TA N Yerevan Sangachal GREECE Dushanbe Chardzhou TAJIKISTAN Ashkhabad Neka Ceyhan Liepaja Khabarovsk MO Yuzhno-Sakhalinsk LD A OV SYRIA Mediterranean Sea IRAQ Baghdad Daqing IRAN Korsakov Vladivostok Nakhodka Kozmino Dalian a Se of Kazakh crude for Kozmino. n See p2 pa Ja J A PA N CHINA Tehran De Kastri Sakhalin Island Vanino ur ESTONIA Ventspils Ukhta Dv Am Tallinn Stockholm a i Helsinki ay ise FINLAND n Ye ga ne O ve A F G H A N I S TA N PA K I S TA N L I B YA EGYPT SAUDI ARABIA © 2014 Argus Media Ltd www.argusmedia.com INDIA Page 19 © 2014 Argus Media Ltd www.argusmedia.com Page 20 Argus Nefte Transport — Crude exports West-east shift Crude exports, including transit shipments, through Transneft’s pipeline system to non-CIS destinations fell by 3.3pc on the year to 4mn b/d (98.8mn t) in January-June. Sellers of Russian and Caspian crude are increasingly seeking to move cargoes to AsiaPacific, reflecting waning European refining demand and plentiful supply. Druzhba pipeline supplies to Europe in the first half were steady on the year at around 1mn b/d, but seaborne Urals loadings from Baltic and Black Sea ports fell by 326,000 b/d to 2mn b/d. The fall in westbound seaborne exports was triggered by a drop in European demand as refiners cut runs in response to stagnant products margins. There was a surge in pipeline exports of Russian crude to China. Rosneft has been supplying 140,000 b/d to China’s CNPC through Kazakhstan using the Atasu-Alashankou pipeline since January under a transit agreement signed with Kazakhstan last year. And flows could rise by some 60,000 b/d, given that the deal includes an option Port loading schedules to hike shipments to 200,000 b/d. Total exports along the East Siberia-Pacific Ocean (ESPO) pipeline increased by 53,000 b/d to 795,000 b/d. More than half this is loaded onto tankers at Russia’s far east port of Kozmino, where exports are expected to rise by 20,000 b/d to 500,000 b/d in the third quarter. Crude exports from Russia outside the Transneft system are also growing, up by 109,000 b/d from the first half of 2013 to 814,000 b/d in January-June this year. The rise reflects higher production from the Sakhalin 1 consortium and in Timan-Pechora basin. Exports of Sokol crude from Sakhalin were up by nearly a fifth in the first half of the year to 168,500 b/d. Meanwhile, Lukoil’s Varandey terminal loaded 116,300 b/d (2.83mn t), with crude from the Trebs field helping to boost overall exports from the far north port by 8.5pc from the first half of last year. If loadings continue at this rate, Varandey Blend exports will total 5.7mn t this year, up from 5.38mn t during 2013. Azeri dip BTC Blend exports were down by 11.5pc to 587,000 b/d and are expected to fall even further this year because of lower production from the mature Azeri-Chirag-Guneshli (ACG) fields. Rising flows of Kazakh oil through the Baku-Tbilisi-Ceyhan pipeline could offset lower Azeri output once Kazakhstan’s Kashagan field comes back on stream, although with this not expected until 2016. Azeri loadings at Turkey’s Ceyhan and the Georgian port of Supsa are expected to fall this year. Eastbound Azeri exports are on the rise, with seven cargoes heading to AsiaPacific refiners in June, three more than usual. Indonesia’s Pertamina is now a major buyer, taking five of June’s seven eastbound cargoes. Rising Asia-Pacific demand for BTC Blend could help offset changing purchasing patterns in Europe, where some term buyers are opting not to renegotiate with Azeri state-run Socar July 2014 and purchase on the spot market instead. This switch is expected to make BTC Blend premiums more volatile. CPC Blend exports from the YuzhnoOzereyevka terminal near Novorossiysk climbed by over a fifth in the first half to 827,000 b/d thanks to the continuing expansion of the Caspian Pipeline Consortium (CPC) system. Chevron-led Tengizchevroil (TCO) is seeking to expand and diversify its portfolio of Asia-Pacific buyers and increasing volumes of CPC Blend are also heading east. Some 3mn bl of CPC Blend headed to Japanese and Korean refiners — such as SK Energy and GS Caltex — in the first half of 2014 and more is expected to follow. TCO is hoping to establish an Asia-Pacific market for the grade, although its high mercaptan levels and the challenging economics of moving 130,000t vessels to the region present significant obstacles. Destination Novorossiysk Primorsk Ust-Luga Baltic ports Kozmino Total Total ’000 b/d Comparisons based on average CPC Blend loadings, Aug Date 1-2 2-3 3-4 4-5 5-6 6-7 7-8 8-9 9-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 Exporter TCO 85.5; TCO 135.5 KPO TCO TCO KPO TCO Trumpet TCO KPO TCO KPO TCO Trumpet TCO KPO KMG 42, KMG 25.5, South Oil 12.5 TCO TCO KPO TCO KPO TCO Trumpet KMG 50, KMG 17, KOA 13 TCO KPO KPO TCO 85.5, TCO 85.5 KMG 41, KMG 34, Maten 5 Trumpet KPO 17-18 18-19 19-20 20-21 21-22 22-23 23-24 24-25 25-26 26-27 27-28 28-29 29-30 30-31 31-1 Total Total ’000 b/d BTC Blend loadings, Aug Date 2-4 3-5 4-6 5-7 7-9 8-10 9-11 10-11 11-13 12-14 13-15 14-16 15-17 17-19 18-20 19-21 20-22 21-23 22-24 23-25 24-26 26-28 27-29 28-30 29-31 30-1 Sep Total Total ’000 b/d © 2014 Argus Media Ltd www.argusmedia.com Exporter Socar Socar Socar Socar Socar Socar BP Socar Socar Socar BP Socar TPAO Socar Socar Socar Inpex Socar BP Socar Socar Socar Statoil Chevron BP Socar ’000t Jul ±% Jun 2,250 -12.0 3,600 -0.5 2,000 11.6 5,600 3.5 2,115 7.7 9,965 -0.3 2,334 -0.3 daily shipments ’000t Vol. 221.0 85.0 135.5 85.0 85.0 135.5 80.1 85.5 85.0 135.5 85.0 135.5 80.1 85.5 85.0 80.0 135.5 85.5 85.0 135.5 85.0 85.5 80.1 80.0 135.5 85.0 85.0 171.0 80.0 135.0 85.0 3,232.8 814 ’000 bl Vol. 800 800 800 800 800 800 650 800 800 800 650 800 600 800 800 800 600 800 650 800 800 800 937 600 650 2,000 20,937 675 Page 21 Argus Nefte Transport — Crude exports July 2014 FSU crude exports to non-CIS destinations, Jun Jun 2013 ’000t YTD ’000 b/d ’000t 2014/2013 Jun/May ’000 b/d ±% ’000 b/d ±% ’000 b/d Through Russia TRANSNEFT SYSTEM Black Sea 2,630.4 636.6 16,775.6 672.9 -11.4 -7.5 Novorossiysk* 2,630.4 636.6 16,775.6 672.9 -11.4 -7.5 -11.4 Russian 1,878.5 454.6 12,323.7 494.3 -10.6 Kazakh 613.8 148.5 3,674.2 147.4 -15.0 5.8 84.6 20.5 508.2 20.4 -38.4 3.0 Azeri Turkmen Baltic 53.4 12.9 269.4 10.8 - -11.9 5,336.2 1,291.4 34,236.0 1,373.2 -14.8 -12.4 Primorsk 3,607.6 873.0 22,912.9 919.0 -20.5 -6.9 Russian 3,607.6 873.0 22,513.6 903.0 -15.7 -6.9 Kazakh 0.0 0.0 399.4 16.0 -80.9 - Ust-Luga 1,728.6 418.3 11,323.0 454.2 -0.6 -22.1 Russian 999.4 241.9 6,796.7 272.6 -20.9 -20.5 Kazakh 729.2 176.5 4,526.3 181.6 61.9 -24.1 Druzhba 3,851.8 932.1 25,013.3 1,003.3 -0.2 -5.5 Germany 1,145.3 277.2 8,649.6 346.9 -7.7 -18.6 Russian 1,009.6 244.3 7,839.9 314.5 -8.6 -20.8 Belarus 135.7 32.8 809.7 32.5 1.2 2.1 1,637.2 396.2 8,934.8 358.4 8.8 20.8 Poland Czech Republic 345.0 83.5 1,800.0 72.2 -3.3 0.4 Slovakia 255.0 61.7 2,377.0 95.3 -15.8 -2.4 Hungary/Slovenia 420.0 101.6 2,797.7 112.2 14.5 -31.7 49.3 11.9 454.2 18.2 34.0 -46.9 578.2 143.4 3,476.0 142.9 - 3.3 China (via ESPO) 1,225.9 304.0 7,642.5 314.1 2.6 - Kozmino 1,899.5 471.1 11,695.4 480.7 10.4 -1.8 15,522.1 3,778.6 98,838.7 3,987.2 -3.2 -7.0 Russian 13,905.3 3,387.3 88,651.4 3,578.5 5.9 -6.5 Kazakh 1,343.0 325.0 8,600.0 344.9 -6.7 -12.9 Bosnia China (via Kazakhstan) Total Transneft of which: Azeri 84.6 20.5 508.2 20.4 -38.4 3.0 Turkmen 53.4 12.9 269.4 10.8 - -11.9 Belarus 135.7 32.8 809.7 32.5 1.2 2.1 Overland 16.0 3.9 115.3 4.6 259.4 -36.1 Finland 16.0 3.9 115.3 4.6 259.4 -36.1 16.0 3.9 115.3 4.6 259.4 -36.1 Baltic 40.6 9.8 217.2 8.7 -3.7 17.4 Kaliningrad 40.6 9.8 217.0 8.7 -3.8 17.4 Black Sea 54.9 14.5 1,383.2 60.7 -65.2 -68.9 Feodosiya 0.0 0.0 0.0 0.0 -100.0 - 54.9 14.5 1,383.0 60.7 -58.1 -68.9 RUSSIAN RAIL Kazakh Taman (Kazakh) Novorossiysk† 0.0 0.0 0.0 0.0 -100.0 - Odessa 0.0 0.0 0.2 0.0 -100.0 - 0.0 0.0 0.2 0.0 -100.0 - CPC ‡ Kazakh 262.5 68.0 2,338.7 100.4 35.2 0.9 Total Russian rail 111.6 28.2 1,715.7 74.0 -59.9 -53.8 of which: Russian 40.6 9.8 217.0 8.7 -3.8 17.4 Kazakh 71.0 18.4 1,498.7 65.3 -63.0 -65.1 1,212.4 307.2 6,799.5 285.8 13.3 19.3 455.2 116.7 2,826.7 120.1 5.4 24.6 16.3 FAR EAST Sakhalin Energy (Vityaz) 757.2 190.6 3,972.8 165.7 19.8 VARANDEY De Kastri (Sokol) 476.9 120.0 2,755.3 114.9 8.5 6.6 Kaliningrad 49.3 11.9 376.8 15.1 -22.9 -37.6 Caspian/central Asia CPC* 2,997.0 784.2 19,067.5 827.0 20.4 -1.5 BTC 2,579.4 639.7 14,275.0 586.8 -11.5 20.7 5.3 KENKIYAK-ALASHANKOU 959.0 236.2 6,045.1 246.8 4.6 Russian transit # 578.2 142.4 3,476.0 141.9 - 3.3 Kazakh exports 381.0 93.9 2,598.0 106.1 -55.1 8.5 CASPIAN 507.4 126.8 3,503.4 146.0 -14.4 4.3 Supsa (AIOC) 350.0 86.8 2,100.0 86.3 9.2 3.3 Batumi 157.4 40.0 1,004.4 42.3 -40.8 129.1 0.0 0.0 399.0 17.4 -13.3 -100.0 23,836.8 5,890.5 149,913.4 6,142.2 -4.6 -2.6 Kulevi FSU Total *Includes crude delivered to the port by rail † included in Transneft figure above ‡ CPC rail volumes are included in the CPC pipeline figure below #Russian transit volumes through Kazakhstan are included in Transneft figure above. © 2014 Argus Media Ltd www.argusmedia.com Page 22 Argus Nefte Transport — Pipeline crude exports July 2014 Russian pipeline exports, Jun’000t Germany ExporterNovorossiysk Czech Rep. Poland Hungary Slovakia Primorsk Bosnia Kozmino Ust-Luga China China Total (via Kaz) (ESPO) export Exports ’000 b/d Total exports thr. Russia 2,630.37 1,145.32 1,637.22 345.00 255.00 420.00 49.26 3,607.60 1,728.61 1,899.49 578.24 1,225.95 15,522.06 3,635.17 Total exports by Russia 1,878.54 1,009.62 1,637.22 345.00 255.00 420.00 49.26 3,607.60 999.44 1,899.49 578.24 1,225.95 13,905.35 3,256.54 Oil companies 1,878.54 1,009.62 1,637.22 345.00 255.00 420.00 49.26 3,607.60 999.44 1,899.49 578.24 1,225.95 13,905.35 3,256.54 678.35 665.15 1,250.00 255.00 1,670.00 599.44 733.36 578.24 1,225.95 7,655.49 1,792.87 733.36 171.75 470.38 470.38 110.16 470.38 470.38 110.16 755.57 6,451.75 1,510.96 3,337.67 781.66 217.52 50.94 Rosneft Verkhnechonskneftegaz 733.36 Transneft Vankorneft Rosneft Rosneft 678.35 665.15 1,250.00 255.00 478.55 630.15 1,160.00 255.00 Udmurtneft 1,670.00 599.44 489.46 324.51 578.24 217.52 Ermakovskoe 50.00 Vankorneft 199.80 199.83 Uvatneftegaz 755.57 749.55 Samotlorneftegaz 35.00 Samaraneftegas 13.65 90.00 Lukoil 274.93 538.89 Lukoil-Nizhnevolzhskneft Lukoil Lukoil-AIK 270.54 749.55 175.54 576.89 135.10 364.93 85.46 341.83 196.50 492.72 100.00 1,459.61 94.29 22.08 131.50 196.50 433.99 100.00 1,306.58 305.99 46.50 100.00 429.88 100.67 265.17 3.71 14.50 43.57 40.00 50.52 134.10 31.40 60.00 60.00 120.00 28.10 387.49 90.75 23.00 70.48 229.33 53.71 4.80 1.00 5.79 1.36 58.74 13.76 600.11 2,171.38 508.52 144.18 373.99 87.59 10.99 Lukoil-Perm Lukoil-Komi 387.49 Ritek 11.71 1,155.20 131.50 94.29 444.60 Lukoil West Sib 528.24 50.00 135.85 Tursunt Lukoil-Komi 58.74 Surgutneftegaz 135.00 Gazpromneft 139.81 336.26 200.00 500.00 90.00 400.00 Gazpomneft-Noyabrskneftegaz 46.91 46.91 Slavneft-Nizhnevartovsk 33.50 33.50 7.85 293.58 68.75 Gazpromneft 59.40 90.00 59.40 90.00 144.18 Gazpromneft-Vostok Gazpromneft-Khantos 5.00 5.00 1.17 149.40 34.99 10.35 Tomskgazprom 44.18 44.18 Tomskneft 95.00 95.00 22.25 694.22 162.58 Tatneft 140.00 Bashneft 171.81 Russneft Ulyanovskneft 187.22 30.00 61.40 126.30 14.76 56.37 14.37 20.01 Goloil 30.00 307.00 6.21 107.57 4.59 Nefterazvedka 0.39 White Nights Aganneftegazgeologiya Novorossiysk exporters '000t Novorossiysk exporters, Jun Lukoil 539 Kazakhstan 614 Rosneft 678 36.35 ’000t 85.65 41.85 34.38 8.05 4.59 1.08 0.39 0.09 5.40 5.40 1.26 51.83 88.18 20.65 Druzhba exporters '000t Druzhba exporters, Jun Bashneft 172 Tatneft 140 Gazpromneft 140 Surgutneftegaz 135 Azerbaijan 85 Private producers 75 Turkmenistan 53 365.72 178.69 Surgutneftegaz 536 ’000t Lukoil 328 Tatneft 247 Bashneft 188 Rosneft 2,170 © 2014 Argus Media Ltd www.argusmedia.com Belarus 136 Gazpromneft 90 Russneft 71 Private producers 61 Neftisa 25 Page 23 Argus Nefte Transport — Pipeline crude exports July 2014 Russian pipeline exports, Jun’000t Germany ExporterNovorossiysk Czech Rep. Poland Hungary Slovakia Primorsk Bosnia Aki-Otyr Neftisa 19.95 5.14 Udmurt Oil Kozmino Ust-Luga China China Total Exports (via Kaz) (ESPO) export ’000 b/d 45.75 45.75 10.71 175.43 200.52 46.96 17.51 17.51 4.10 Udmurt National Oil 5.93 5.93 1.39 Urals Oil 1.47 1.47 0.34 Yursk Oil 19.95 19.95 4.67 Belkamneft 73.06 73.06 17.11 CanBaikal Resourses 10.12 10.12 2.37 8.34 8.34 1.95 Regional Oil Consortium 37.09 37.09 8.69 Sibintec 10.48 10.48 2.45 ReshNK 0.66 0.66 0.15 Udmurtgeologiya 4.22 4.22 0.99 5.14 1.20 Komnedra Samarainvestneft 5.14 ENES 0.40 0.40 0.09 Okunevskoye 1.22 1.22 0.29 Ryabovskoye 4.95 4.95 1.16 805.74 188.70 9.35 2.19 10.60 2.48 Russian private producers Aloil 74.67 8.21 27.40 5.70 19.26 354.87 315.63 9.35 Alyansneftegaz 10.60 Bental 0.40 0.40 0.09 Baiteks 4.80 4.80 1.12 3.59 0.84 1.32 0.31 Blagodarov-Oil Carbon-Oil 3.59 1.32 Dinyu 0.75 Dulisma East Transnational Co 0.75 0.17 61.28 61.28 14.35 10.60 10.60 2.48 Yelabuganeft 0.66 0.66 0.15 Geologic Research Center 3.60 3.60 0.84 Geologiya 5.77 5.77 1.35 Geotekh 3.63 3.63 0.85 Ideloil 6.00 6.00 1.41 Inga 6.00 6.00 1.41 165.63 165.63 38.79 162.73 162.73 38.11 2.90 2.90 0.68 2.50 0.59 INK INK INK-Neftegazgeologiya Intek-West Siberia 2.50 Kara-Altyn Khit R 17.54 17.54 4.11 3.74 0.88 3.74 Kolvaneft 22.30 22.30 5.22 Kondurchaneft 2.14 2.14 0.50 Kosyuneft 1.71 1.71 0.40 Baltic exporters '000t Baltic exporters, Jun Surgutneftegaz 900 Kazakhstan 729 ’000t Lukoil 493 Private producers 355 Kozmino exporters '000t Kozmino exporters, Jun Surgutneftegaz 600 ’000t Private producers 316 Gazpromneft 144 Tatneft 307 Neftisa 175 Rosneft 2,269 Russneft 108 Lukoil 100 Rosneft 733 © 2014 Argus Media Ltd www.argusmedia.com Bashneft 6 Page 24 Argus Nefte Transport — Pipeline crude exports July 2014 Russian pipeline exports, Jun’000t Germany ExporterNovorossiysk Czech Rep. Poland Hungary Slovakia Primorsk Bosnia Kozmino Ust-Luga China China Total Exports (via Kaz) (ESPO) export ’000 b/d Makoil 0.56 0.56 0.13 Mellyaneft 2.54 2.54 0.59 NeftUs 9.60 9.60 2.25 Nizhneomrinskaya neft 0.27 0.27 0.06 1.52 0.36 25.25 5.91 7.29 1.71 2.66 0.62 14.60 14.60 3.42 6.99 6.99 1.64 Nord Imperial 1.52 Novatek-Tarcosaleneftegas 25.25 Okhtin-Oil 7.29 Orenburgnefteotdacha 2.66 Polar Lights Purneftegazgeologiya Region-neft 2.80 Rusvietpetro 81.95 Sadakoil 0.50 Selengushneft Sheshmaoil Sial 19.19 0.50 0.12 0.50 0.12 13.06 13.06 3.06 3.92 66.00 15.53 Tatneft-Geologiya 0.66 81.95 0.50 Taas-Yuryakh Neftegazdobycha Tatex 2.80 5.70 3.92 0.92 66.00 15.46 15.53 3.64 5.70 1.34 Tatneft-Samara 8.77 8.77 2.05 Tatnefteprom 8.90 8.90 2.08 11.34 2.66 13.64 3.20 Tatnefteprom-Zyuzeyevneft Tatoilgaz 11.34 13.64 TNS-Razvitie 2.15 Total RRR Troitskneft 125.14 8.12 TsNPSEI 0.63 Ulyanovskneftegaz 2.00 Ural Oil Company 2.41 Velloil 0.20 2.15 0.50 125.14 29.31 8.12 1.90 0.63 0.15 2.00 0.47 2.41 0.56 0.20 0.05 Vumn 4.70 4.70 1.10 Yambuloil 0.60 0.60 0.14 12.00 2.81 3.00 0.70 9.00 2.11 729.17 1,616.71 378.62 729.17 1,343.00 314.52 84.58 19.81 135.70 31.78 53.43 12.51 Yukola-Neft 3.00 Povolzhskneft 9.00 3.00 Yukola-Neft 9.00 Transit thr. Transneft sys. 751.84 Kazakhstan 613.83 Azerbaijan 84.58 Belorussia Turkmenistan 135.70 135.70 53.43 Exports by route Exports by route mn t 30 25 Exports by company Exports by producer mn t 50 Jan-Jun 2013 Jan-Jun 2014 Jan-Jun 2013 40 Jan-Jun 2014 20 30 15 20 10 0 0 Su Ro sn rg e ut ne ft fte ga z Ka za Lu kh ko pr il Pr iva odu ce te r pr od s uc er s Ta G tn az ef t pr om ne Ba ft sh ne Ru f t ss ne ft N ef tis a Be la r us Az er ba ija n 10 Pr im or No sk vo ro ss iys k Ko zm in o Us t-L ug a Po la nd G er Ch m in an a y (v ia E Ch SP in O a ) (v ia Ka z. ) Hu ng ar y Sl ov ak ia Cz ec h Re p. 5 © 2014 Argus Media Ltd www.argusmedia.com Page 25 Argus Nefte Transport — Russian rail data July 2014 Russian rail exports-imports, Jun Russian exports by rail Overland Afghanistan Armenia Azerbaijan Belarus China Finland Georgia Hungary Kazakhstan Kyrgyzstan Korea Latvia Lithuania Moldova Mongolia Poland Romania Slovakia Tadjikistan Turkmenistan Ukraine Uzbekistan Vladikavkaz Estonia Crimea Sea ports: Baltic Kaliningrad Kaliningrad Svetly Baltiysk Klaipeda Vysotsk Liepaja Riga St. Petersburg St. Petersburg Novy Port Tallinn Tallinn Muuga Maardu Paldiski Ventspils Ust-Luga Sillamae Barents Sea Murmansk White Sea Arkhangelsk Black Sea Feodosiya Ilichevsk Kavkaz Kerch Nikolaev Novorossiysk Odessa Pivdenne (Yuzhny) Reny Sevastopol Azov Taganrog Temryuk Tuapse Vishesteblievskaya Eisk Caspian Sea Astrakhan Pacific Nakhodka Slavyanka Vanino Kozmino CPC River Terminals Oktyabrsk Total Russian exports Crude Jun ± % May ’000t Condensate Naphtha YTD Gasoline Kerosine 4.07 0.43 148.28 -4.37 733.78 4.50 0.06 3.72 3.70 14.54 40.69 3.54 17.29 38.93 3.32 26.33 16.56 8.72 0.18 0.14 0.05 8.29 40.61 13.66 217.04 45.99 76.08 40.61 13.66 217.04 45.99 70.70 5.39 0.95 3.13 1.00 Fuel oil 0.06 0.38 0.12 Lubricants Bitumen 0.12 1.13 0.57 31.30 2.25 4.77 1.77 62.72 11.88 23.12 0.12 0.78 0.77 2.00 8.19 5.00 4.41 1.49 71.25 9.48 9.71 2.15 6.99 0.98 25.52 7.71 0.06 39.06 46.00 1.98 2.54 3.55 5.77 0.45 66.96 0.13 10.17 6.11 5.11 82.03 53.13 0.56 35.46 7.60 2.81 21.45 2.98 19.59 4.07 14.94 0.35 20.20 3.91 103.11 555.45 31.65 14.31 0.30 5.90 0.10 5.93 21.08 477.85 24.93 10.55 1.25 0.31 0.21 0.10 334.87 334.87 134.42 17.61 1.04 115.77 12.51 0.91 0.28 6.74 0.68 21.08 290.97 178.86 146.13 146.13 7.82 0.92 0.05 0.68 0.66 0.06 5.75 1.02 1.12 3.49 0.07 0.07 103.25 LPG Others 0.51 12.78 3.38 213.79 0.12 VGO 10.06 5.37 0.10 0.97 Gasoil 52.96 41.85 1,307.61 87.10 0.31 5.93 5.82 89.21 13.52 0.20 0.20 29.94 0.62 1.12 3.47 72.62 68.04 35.24 0.27 0.06 95.92 262.49 547.68 Kazakh exports through Russia Overland Azerbaijan Belarus Finland 16.04 Georgia Hungary Latvia Lithuania Moldova Mongolia Poland Romania Slovakia Ukraine Uzbekistan Crimea Sea ports Svetly Arkhangelsk Ilichevsk Kavkaz Kerch Klaipeda Liepaja Novorossiysk Odessa Riga Muuga Azov Temryuk Ventspils Vishesteblievskaya 54.51 Sillamae Eisk -85.14 16.72 -8.37 603.69 -2.34 2,338.67 9.68 0.39 1.06 1.00 0.11 750.44 571.80 5.63 2.11 -3.38 3,909.96 8.59 0.07 1.97 21.45 242.73 49.12 177.42 234.20 0.06 114.11 288.64 29.89 158.89 7.84 34.44 7.09 29.22 0.05 33.59 26.59 8.66 0.35 115.32 15.40 241.33 1,449.16 86.06 2,227.93 0.35 75.32 71.69 493.33 0.97 0.17 9.75 19.93 1.67 12.37 0.49 0.80 2.53 1.14 0.46 35.03 5.99 4.49 9.29 107.02 -69.34 1,347.59 1.54 1.82 17.26 12.17 3.80 29.98 0.30 45.00 7.20 2.55 6.02 0.24 3.98 1.08 25.71 0.49 3.21 3.96 4.03 © 2014 Argus Media Ltd www.argusmedia.com -16.82 -0.97 7.05 -25.38 8.64 -19.59 -25.68 2.31 -19.05 2.40 -14.97 9.02 7.50 -16.57 6.92 -1.36 38.26 62.71 -100.00 29.28 9.26 108.07 -0.91 -26.45 -23.74 1,327.88 35.70 -0.65 -21.38 0.38 -61.35 10.63 21.45 26.59 469.26 242.86 0.06 -36.92 6.15 171.30 6.82 -21.48 -83.32 0.00 -100.00 23.09 7.14 2,941.99 -7.54 216.80 -24.37 568.39 -16.51 5.25 26.86 -12.61 -99.74 36.62 -40.18 -6.27 -6.58 6.70 -11.45 -14.12 -10.76 79.54 0.96 na 111.30 1.08 3.36 1.54 19.09 25.71 25.99 6.34 6.02 3.21 237.62 -78.00 na -17.31 -20.72 -36.14 -26.98 na 37.66 621.42 33.94 45.00 4.03 -2.97 -20.08 1.95 5.90 221.98 -34.26 304.55 -5.72 61,198.21 35.16 0.17 2.53 31.14 16.36 1.14 0.46 35.64 5.99 4.49 10.09 3.36 805.18 39.58 271.36 647.50 377.40 341.54 8,465.85 701.86 241.28 7.11 274.03 201.80 426.16 102.74 2,584.25 2,282.60 3.56 1.98 0.61 115.63 5.08 52.41 374.40 44.80 870.34 18.75 146.20 913.18 596.04 0.70 793.05 99.22 36.59 758.80 503.81 94.77 65.56 317.72 1.82 656.13 263.95 0.78 2.40 50.37 62.88 1,105.45 18.45 0.97 14.68 YTD 0.14 1,138.55 -86.14 223.88 -0.44 857.01 12.18 57.65 66.56 -6.82 5,926.92 86.34 62.02 -13.56 3,020.28 -14.64 3,212.40 -14.64 3,211.27 -33.03 1.13 -25.06 1,943.36 -3.98 95.24 -94.96 338.92 -17.54 1,509.21 -46.29 310.72 -44.89 3,226.00 -2.40 11,163.99 78.47 1,188.33 1.70 34.44 28.52 30.88 91.26 93.78 8,684.48 0.96 0.12 982.62 10.55 327.64 481.51 481.40 0.10 134.42 17.61 1.04 115.77 30.06 242.70 1,967.70 90.89 33.81 37.53 53.73 224.10 3,630.14 3.27 -38.16 149.15 0.07 137.77 11.32 561.99 29.89 7.84 33.81 91.66 86.62 4.72 23.89 99.71 99.78 0.05 59.70 15.73 6.90 127.48 78.16 10.70 9.71 36.02 0.28 136.53 89.38 0.18 0.00 22.19 215.53 0.38 0.38 22.32 11.19 4.19 1,031.52 1.19 105.54 88.05 -8.89 72.62 112.24 1.70 10.54 Products Total ± % May 18.54 0.28 289.23 93.46 14.84 313.90 83.53 8.26 1.33 265.96 41.95 40.84 40.14 0.07 0.17 0.96 1.95 0.03 158.88 61.10 3.36 30.15 76.29 340.53 141.30 6.34 12.48 10.18 4.83 210.68 498.13 25.83 Page 26 Argus Nefte Transport — Russian rail data July 2014 Russian rail exports-imports, Jun Total Kazakh exports through Russia Total Russian exports and Kazakh transit Crude Jun ± % May ’000t Condensate Naphtha YTD Gasoline Kerosine 70.55 -65.37 1,475.41 45.38 618.23 -19.77 5,385.37 137.03 Russian imports by rail Border crossings Azerbaijan Belarus China Estonia Finland Kazakhstan Latvia Lithuania Ukraine Crimea unknown Sea ports Nakhodka St. Petersburg Vanino Vladivostok Vostochny Total Russian imports 241.33 1,449.16 119.58 0.72 0.44 0.11 0.66 3.77 6.85 1.22 1.96 0.22 17.61 86.06 2,245.54 4.10 152.82 Lubricants Bitumen 98.33 75.32 76.86 591.65 5.10 0.86 0.22 2.50 3.96 6.55 0.44 0.51 0.13 1.32 0.71 0.07 0.40 0.11 2.33 125.30 37.40 4.49 12.24 0.03 3.13 6.76 0.32 2.18 0.20 2.12 8.82 0.05 0.14 0.30 0.14 2.10 0.10 8.78 1.41 2.55 1.04 0.03 0.05 0.32 45.95 0.08 0.03 5.55 Products Total ± % May YTD 435.97 -9.11 2,795.53 139.73 9,120.46 -5.89 63,993.73 14.18 0.80 3.11 16.68 169.56 0.00 2.00 5.48 19.89 0.05 20.01 0.58 2.10 8.09 2.57 52.43 -100.00 -11.44 2.61 1.43 -2.01 70.23 -5.58 na -27.29 0.37 0.53 -35.63 0.12 0.10 36.17 0.41 2.22 247.61 0.10 0.14 0.80 100.13 255.46 1.41 2.73 1.04 0.00 0.10 0.03 6.25 54.64 34.42 108.28 -100.00 -16.61 na 59.98 0.00 0.00 -100.00 -100.00 0.11 0.05 0.13 22.23 -76.91 -74.15 0.91 0.85 2.04 0.20 na 0.66 1.10 0.03 0.03 0.00 0.00 na -100.00 -100.00 0.16 17.43 0.36 0.03 0.08 0.05 0.51 0.00 na 0.81 -15.64 -100.00 0.20 0.47 8.49 0.06 0.45 -89.00 0.26 19.76 0.34 443.91 1.48 0.58 0.09 0.00 na -100.00 0.75 1.21 0.03 0.00 0.81 0.24 -100.00 -49.04 -77.67 1.32 7.93 3.71 0.02 0.00 0.14 -100.00 -17.93 0.45 0.82 0.00 0.04 0.00 -100.00 -87.34 -100.00 0.36 1.24 0.17 0.97 -12.47 5.62 0.27 0.12 0.00 1.07 0.06 -43.16 -100.00 -86.27 na 0.03 0.22 0.94 4.99 0.00 1.98 na na 36.48 -31.11 -100.00 764.69 0.98 0.15 36.12 0.13 0.04 0.14 0.62 4.58 46.71 23.24 2.21 0.04 2.01 1.33 72.61 6.17 35.06 0.79 2.67 3.16 269.15 0.35 611.77 15.44 0.05 0.18 0.02 0.30 0.09 0.05 0.13 Others 2.00 4.76 0.89 3.01 0.35 LPG 5.18 294.81 3,782.96 5.34 0.11 0.28 VGO 70.71 Fuel oil 0.17 Kazakh imports through Russia Overland Azerbaijan Belarus Estonia Finland Latvia Novorossiysk Poland Ukraine Vostochny Total Kazakh imports through Russia Imports through Russia Afghanistan Belarus Estonia Latvia Makhachkala Not identified Azerbaijan Belarus Latvia Ukraine Belarus Azerbaijan Not identified Finland Not identified Georgia Belarus Makhachkala Not identified Kyrgyzstan Belarus Estonia Latvia Not identified Latvia Azerbaijan Not identified Lithuania Azerbaijan Not identified Mongolia Belarus Latvia Rostov-on-Don Poland Azerbaijan Lithuania Russia Not identified Tadjikistan Belarus Latvia Turkmenistan Belarus Latvia Ukraine Ukraine Azerbaijan Ukraine Not identified Uzbekistan Belarus Estonia Latvia Ukraine Vladivostok Kavkaz Vostochny Transit through Baltiysk Transit through Svetly Transit through Kaliningrad Transit through Kavkaz Transit through Kerch Transit through Liepaja Transit through Novorossiysk Transit through Odessa Transit through Riga Transit through Muuga Transit through Ventspils Transit through Ust-Luga Transit thr. Visheste. 0.05 Transit through Sillamae Transit through Eisk Total other imports 0.05 through Russia 29.61 Gasoil 0.02 0.20 93.62 879.86 5.21 11.24 32.61 110.98 1.15 90.56 2.28 2.10 71.37 0.16 4.48 4.94 16.83 2.16 5.90 13.91 35.67 1,326.64 0.27 6.40 0.12 4.92 13.71 2.80 0.21 0.84 0.03 29.30 0.02 10.05 5.82 6.03 2.76 0.11 0.05 0.05 0.47 0.32 0.04 0.12 0.34 0.06 0.03 0.81 0.24 0.02 0.10 0.02 0.04 0.24 0.73 0.12 0.12 0.94 0.06 0.10 0.03 0.22 0.78 4.10 0.83 0.02 0.17 0.06 1.98 0.18 0.60 -97.17 18.46 0.85 -97.17 18.76 1.68 0.06 4.88 0.13 0.60 0.05 10.68 20.02 24.27 45.73 35.32 67.85 0.19 0.07 0.02 2.72 © 2014 Argus Media Ltd www.argusmedia.com 1.15 1.71 0.60 -9.90 0.00 0.00 0.25 -54.40 30.70 604.12 0.00 -100.00 0.93 261.41 70.00 -9.47 0.00 -100.00 116.12 -6.14 Page 27 Argus Nefte Transport — Rail exports July 2014 Russian rail exports in detail, Jun ’000t Destination Latvia Freight Sender Station Volume Destination Gluda Freight Bitumen Sender Yaroslavl refinery Station Novoyaroslavskaya Volume 0.35 Ventspils Naphtha Kuibyshev refinery Kryazh 10.87 Naphtha No data No data 0.91 Daugavpils Gasoil Yaroslavl refinery Novoyaroslavskaya 1.44 Oils and lubricants Ufaneftekhim Zagorodnyaya Naphtha No data Syzran-1 0.23 0.05 Propane Zaikinskii GPP Tyulpan Naphtha Novokuibyshev refinery 0.77 Novokuibyshevskaya 2.82 Propane Minnibayevskii GPP Kulsharipovo Motor gasoline 0.10 Moscow refinery Yanichkino 8.91 Propane-butane fr. No data No data 0.16 Motor gasoline No data No data 0.67 Propane-butane fr. Orenburg GPP Kargala 1.50 Motor gasoline Orskii refinery Nikel 2.93 Propane-butane fr. Permneftegazpererabotka Osentsy 1.22 Stable gasoline Krasnoleninsk refinery Nyagan 4.80 Propane-butane fr. Ekogazservis Sapernaya 1.35 Stable gasoline No data No data 1.13 Butane Omsk refinery Kombinatskaya 0.25 Stable gasoline Orskii refinery Nikel 1.23 Butane Tobolsk-Neftekhim Tobolsk 0.31 Stable gasoline Ryazan refinery Stenkino-2 51.67 Gasoil No data No data 0.06 Stable gasoline Yaroslavl refinery Novoyaroslavskaya 28.01 Gasoil N. Novgorod refinery Zeletsino 0.96 VGO No data No data 2.02 Propane No data No data 0.13 VGO Ryazan refinery Stenkino-2 50.94 Propane Omsk refinery Kombinatskaya 0.13 0.53 Gas condensate dist. No data No data 0.06 Propane Tobolsk-Neftekhim Tobolsk Gas condensate dist. Omsk refinery Kombinatskaya 1.55 Propane-butane fr. Orenburg GPP Kargala Gasoil Moscow refinery Yanichkino VGO Moscow refinery Yanichkino Gasoil No data No data 1.79 VGO No data No data 1.82 Gasoil Yaroslavl refinery Novoyaroslavskaya 4.91 VGO Transit (Kazakhstan) Aksarayskaya-2 8.30 Fuel oil No data No data 0.68 VGO Transit (Kazakhstan) Ozinki 1.45 Fuel oil Ryazan refinery Stenkino-2 Gas condensate Yuzhno-Urals Co Kargala 3.54 Residual oil Nizhnekamsk refinery Biklyan 0.50 Gasoil No data No data 0.11 Pyrolysis tar No data Kitoj-Kombinatsky 0.12 Gasoil Yaroslavl refinery Novoyaroslavskaya 0.98 Isobutane Ekogazservis Sapernaya Oils and lubricants Angarsk refinery Sukhovskaya 2.98 Fuel oil Astrakhan GPP Aksarayskaya-2 Oils and lubricants Volgograd refinery No data 1.37 Fuel oil No data No data 1.00 Oils and lubricants No data Syzran-1 0.06 Fuel oil Transit (Kazakhstan) Aksarayskaya-2 7.71 Oils and lubricants Novokuibyshev refinery Novokuibyshevskaya 2.47 Fuel oil Transit (Kazakhstan) Ozinki 12.22 Oils and lubricants Omsk refinery Kombinatskaya 2.40 Other dark products Transit (Kazakhstan) Ozinki 0.97 Oils and lubricants Transit (Kazakhstan) Ozinki 1.54 Residual oil Nizhnekamsk refinery Biklyan 3.95 Oils and lubricants Ufaneftekhim Zagorodnyaya 0.11 Residual oil Salavatskii refinery Salavat 0.92 Oils and lubricants Yaroslavl refinery Novoyaroslavskaya 1.17 Propane Zaikinskii GPP Tyulpan 0.15 12.09 Propane Minnibayevskii GPP Kulsharipovo Propane Novokuibyshevsk petchem. Novokuibyshevskaya Total Ventspils Liepaja Olaine 24.95 Rezekne-2 41.16 242.70 Total Liepaja Riga Bolderaja Riga Kirishi refinery Kirishi 0.35 Propane-butane fr. Ekogazservis Sapernaya 0.10 No data No data 0.02 Tars No data Kitoj-Kombinatsky 1.24 Isopentane fr. Minnibayevskii GPP Kulsharipovo 1.09 Pyrolysis tar Nizhnekamsk refinery Biklyan 0.28 Propane Minnibayevskii GPP Kulsharipovo 0.73 Pyrolysis tar Salavatskii refinery Allaguvat 0.60 Propane Novokuibyshevsk petchem. Novokuibyshevskaya 0.04 Oils and lubricants Volgograd refinery No data 0.06 Propane Tobolsk-Neftekhim Tobolsk 1.51 Oils and lubricants N. Novgorod refinery Zeletsino 0.18 Propane-butane fr. Orenburg GPP Kargala 0.39 Oils and lubricants Omsk refinery Kombinatskaya 0.06 Propane-butane fr. Permneftegazpererabotka Osentsy 2.78 Shkirotava Oils and lubricants Transit (Kazakhstan) Ozinki 0.49 Other LPG Transit (Kazakhstan) Ozinki 0.49 Mangali Oils and lubricants No data No data Kirishi refinery Kirishi 102.81 Motor gasoline No data No data 0.45 Total in/through Latvia Gasoil Moscow refinery Yanichkino 0.99 Lithuania Gasoil No data No data 0.18 Klaipeda Gasoil Transnefteprodukt Bryansk-Vostochnyi VGO Kirishi refinery Kirishi 2.19 Lithuania (internal) VGO Moscow refinery Yanichkino 7.96 Bugyanyai Stable gasoline Nizhnekamsk ref. (Taneko) Biklyan 3.32 VGO No data No data 1.35 Fuel oil Transit (Kazakhstan) Ozinki 1.67 VGO Ryazan refinery Stenkino-2 13.49 Others No data No data 0.34 VGO Transit (Kazakhstan) Aksarayskaya-2 2.57 Others Transit (Kazakhstan) Aksarayskaya-2 VGO Transit (Kazakhstan) Ozinki 9.60 Others Transit (Kazakhstan) Ozinki Gasoil Moscow refinery Yanichkino 5.24 Butane Tobolsk-Neftekhim Tobolsk 0.04 Gasoil Ryazan refinery Stenkino-2 3.00 Propane Tobolsk-Neftekhim Tobolsk 0.07 Gasoil Transnefteprodukt Bryansk-Vostochnyi Slack wax distillate Transit (Kazakhstan) Ozinki 0.40 Fuel oil Transit (Kazakhstan) Ozinki 7.20 Paraffin Perm refinery Osentsy 0.57 Oils and lubricants No data No data 0.38 Paraffin Transit (Kazakhstan) Ozinki 0.28 Oils and lubricants Novokuibyshev refinery Novokuibyshevskaya 0.65 Petrolatum Novokuibyshev refinery Novokuibyshevskaya 0.20 Oils and lubricants Transit (Kazakhstan) Ozinki 0.24 Paraffin Yaroslavl refinery Novoyaroslavskaya 0.05 Oils and lubricants Ufaneftekhim Zagorodnyaya 0.12 Petrolatum Volgograd refinery No data 0.10 Other dark products No data No data 1.62 Butane Tobolsk-Neftekhim Tobolsk 0.27 Other dark products Salavatskii refinery Salavat 1.26 Gasoil Yaroslavl refinery Novoyaroslavskaya 0.99 Pentane fr. No data No data 0.19 Oils and lubricants Ufaneftekhim Zagorodnyaya 0.12 Pentane fr. Transit (Kazakhstan) Aksarayskaya-2 5.90 Propane No data No data 0.07 Others No data No data 2.09 Propane Tobolsk-Neftekhim Tobolsk 0.60 Others No data Loshhinnaya 6.96 Butane Tobolsk-Neftekhim Tobolsk 0.08 Others Novokuibyshev refinery Novokuibyshevskaya 0.23 Oils and lubricants N. Novgorod refinery Zeletsino 0.06 Pyrolysis tar Nizhnekamsk refinery Biklyan 0.28 Oils and lubricants Ufaneftekhim Zagorodnyaya 0.06 Oils and lubricants No data No data 0.10 Propane Tobolsk-Neftekhim Tobolsk 0.26 Propane-butane fr. No data No data 0.02 139.43 30.03 Tukums-2 0.16 Total Latvia (internal) Pentane fr. 91.29 699.96 Transit (Kazakhstan) Aksarayskaya-2 3.36 Total Klaipeda Valchyunai Vevis Vilnius Kaunas Kedainyai 353.88 Latvia (internal) Ventspils 0.11 0.14 Butane Total Riga Valmiera 0.08 14.06 Butane Ziemelblazma Motor gasoline Mangali 0.49 19.96 3.36 2.01 11.84 Propane-butane fr. Tobolsk-Neftekhim Tobolsk 0.40 0.03 Propane-butane fr. Ekogazservis Sapernaya 0.49 Novokuibyshevsk petchem. Novokuibyshevskaya 0.07 Propane-butane fr. Yuzhno-Urals Co Kargala 0.41 Propane-butane fr. Permneftegazpererabotka Osentsy 0.43 Kupishkis Propane-butane fr. No data Buzuluk 1.68 Propane Minnibayevskii GPP Kulsharipovo 0.16 Panyavezhis Oils and lubricants Ufaneftekhim Zagorodnyaya 0.06 Propane Minnibayevskii GPP Propane Kulsharipovo © 2014 Argus Media Ltd www.argusmedia.com Page 28 Argus Nefte Transport — Rail exports July 2014 Russian rail exports in detail, Jun Destination Rimkai ’000t Freight Gasoil Sender Transnefteprodukt Station Bryansk-Vostochnyi Oils and lubricants N. Novgorod refinery Zeletsino Oils and lubricants Omsk refinery Kombinatskaya Others No data No data Freight Gasoil Sender Perm refinery Station Osentsy 0.30 Gasoil Udmurtnefteprodukt Kama 0.06 Gasoil Ukhta refinery Vetlasyan 59.26 0.06 Fuel oil No data No data Butane Tobolsk-Neftekhim 10.51 Tobolsk 0.16 Fuel oil N. Novgorod refinery Zeletsino Propane 42.53 Tobolsk-Neftekhim Tobolsk 0.45 Fuel oil Nizhnekamsk ref. (Taneko) Biklyan Klaipeda 85.28 Pentane fr. Transit (Kazakhstan) Aksarayskaya-2 0.15 Fuel oil Nizhnekamsk ref. (Taneko) Biklyan Gaizhyunai 84.97 Gasoil Yaroslavl refinery Novoyaroslavskaya 4.15 Fuel oil Novoufimsk refinery Novoufimskaya Total Lithuania (internal) 32.42 Fuel oil Perm refinery Osentsy Total in/through Lithuania 35.78 Fuel oil Salavatskii refinery Allaguvat 11.96 Fuel oil Usinskii refinery Usinsk 53.00 0.31 Fuel oil Ufa refinery Benzin 115.46 Fuel oil Ukhta refinery Vetlasyan Stable gasoline No data No data 3.80 Stable gasoline Nizhnekamsk ref. (Taneko) Biklyan 4.98 20.15 Stable gasoline Transit (Lithuania) Nesterov 0.78 0.17 Tyalshyai Volume 0.62 Destination Estonia Maardu No data No data Yaroslavl refinery Novoyaroslavskaya VGO No data No data VGO Transit (Kazakhstan) Aksarayskaya-2 Fuel oil No data No data Fuel oil Transit (Kazakhstan) Aksarayskaya-2 2.55 Tars No data No data Fuel oil Transnefteprodukt Petropavlovsk 0.91 Tars No data Syzran-1 0.06 38.08 Tars Novokuibyshev refinery Novokuibyshevskaya 5.70 Tars Transit (Lithuania) Nesterov 115.77 10.68 Total Vysotsk Baltiysk No data No data 0.12 No data 0.16 Isopentane fr. Tobolsk-Neftekhim Tobolsk 10.34 Zhelezno- Butane Nizhnekamsk refinery Sobolekovo 0.10 Isopentane fr. Chaikovskii GPP Kauchuk 2.32 dorozhnyi Butane Omsk refinery Kombinatskaya 3.09 Pentane fr. No data No data 0.17 Butane Transit (Kazakhstan) Aksarayskaya-2 0.27 Pentane fr. Tobolsk-Neftekhim Tobolsk 16.95 Propane Transit (Kazakhstan) Aksarayskaya-2 0.78 30.06 Propane-butane fr. Orenburg GPP Kargala 0.78 Propane-butane fr. Tobolsk-Neftekhim Tobolsk 1.18 Propylene fr. Transit (Lithuania) Sovetsk 0.81 No data No data Total Baltiysk 0.17 12.26 VGO No data No data 25.01 VGO No data Syzran-1 0.31 VGO N. Novgorod refinery Zeletsino 26.10 VGO Salavatskii refinery Allaguvat 3.87 VGO Transit (Kazakhstan) Aksarayskaya-2 45.00 Svetly VGO Ukhta refinery Vetlasyan 56.09 Baltiyski Les Stable gasoline No data Fuel oil No data No data 46.05 Stable gasoline Nizhnekamsk ref. (Taneko) Biklyan Others No data Loshhinnaya 2.78 Stable gasoline Transit (Lithuania) Nesterov 4.10 Pyrolysis tar Tomskneftekhim Kopylovo 0.70 Gas condensate No data No data 0.70 Gas condensate Transit (Lithuania) Nesterov 0.83 Gas condensate Yuzhno-Urals Co Kargala 45.28 Total Zheleznodorozhnyi Kaliningrad 205.89 Fuel oil Astrakhan GPP Aksarayskaya-2 Fuel oil No data No data Total Tallinn Total in/through Estonia Gasoil 7.02 Total Kaliningrad Tallinn 16.98 0.07 No data Transit (Kazakhstan) Ozinki 0.96 Oils and lubricants No data No data 1.12 17.61 Oils and lubricants N. Novgorod refinery Zeletsino 7.37 407.40 Oils and lubricants Perm refinery Osentsy 12.59 Oils and lubricants Transit (Lithuania) Nesterov Crude oil Kaliningradmorneft Znamensk No data No data 0.06 Naphtha Usinskii refinery Usinsk 14.72 Total Svetly Stable gasoline No data No data 0.04 Murmansk Stable gasoline No data Syzran-1 0.15 Komsomolsk Stable gasoline Novokuibyshev refinery Novokuibyshevskaya 9.94 Fuel oil Antipinski refinery Voynovka Fuel oil No data No data 17.61 Fuel oil Omsk refinery Kombinatskaya 54.94 No data 1.78 Gas condensate dist. Salavatskii refinery Allaguvat 41.35 Total Murmansk Gasoil Krasnoleninsk refinery Nyagan 4.97 Saint-Petersburg Gasoil No data No data 1.79 Avtovo Gasoil Kirishi refinery Kirishi Gasoil Nizhnevartovsk refinery Nizhnevartovsk-2 47.69 Fuel oil No data No data Gasoil Usinskii refinery Usinsk 43.86 Fuel oil N. Novgorod refinery Zeletsino Other kerosine No data No data Biklyan Other kerosine Nizhnekamsk ref. (Taneko) Biklyan Heating oil No data Heating oil Nizhnekamsk ref. (Taneko) Biklyan 1.01 Fuel oil Nizhnekamsk ref. (Taif) Fuel oil Nizhnekamsk ref. (Taneko) Biklyan 0.73 Fuel oil Perm refinery Osentsy 13.20 Fuel E-4 Kirishi refinery Kirishi Oils and lubricants No data No data Other dark products No data No data 1.98 Naphtha Usinskii refinery Usinsk Stable gasoline Antipinski refinery Voynovka Stable gasoline Volhovsk Volkhovstroy-1 8.80 Novy Port Stable gasoline Korobkovskii GPP Lapshinskaya 6.17 Total Novy Port Stable gasoline Locosovsk refinery Langepasovski 1.59 Ust-Luga Stable gasoline No data No data 7.85 Luzhskaya Stable gasoline Antipinski refinery Voynovka Stable gasoline N. Novgorod refinery Zeletsino 21.09 Stable gasoline Zaikinskii GPP Novosergievskaya Stable gasoline Perm refinery Osentsy 71.51 Stable gasoline Zaikinskii GPP Tyulpan Stable gasoline Ukhta refinery Vetlasyan 12.04 Stable gasoline Mariy El refinery Nuzhyaly Stable gasoline Yaisk Sudgenka 43.44 Total Saint-Petersburg Oils and lubricants 0.07 72.62 34.24 215.53 0.06 40.61 184.32 Gas condensate dist. No data Total Arkhangelsk 0.90 69.80 Fuel oil Naphtha No data 0.07 0.64 North-West ports Vysotsk 0.41 No data Total Sillamyae Arkhangelsk 982.62 Isopentane fr. Sillamae Yulemiste 59.63 100.28 Gas condensate Total Paldiski Vaivara 4.49 25.20 Fuel oil Total Muuga Paldiski 114.60 Fuel oil Total Maardu Muuga Volume 42.00 146.13 1.65 157.25 30.92 5.00 100.05 40.01 0.21 0.20 481.40 No data No data 0.10 0.10 55.94 0.90 9.07 13.99 29.95 Stable gasoline No data No data Gas condensate dist. No data No data 0.51 Stable gasoline Nizhnevartovsk refinery Nizhnevartovsk-2 57.08 Gas condensate dist. Salavatskii refinery Allaguvat 3.52 Stable gasoline Nizhnekamsk ref. (Taif) Biklyan 47.52 5.34 Stable gasoline Nizhnekamsk ref. (Taneko) Biklyan 49.97 40.05 Stable gasoline Novoufimsk refinery Novoufimskaya 6.21 6.03 Stable gasoline Omsk refinery Kombinatskaya 68.51 Gas condensate dist. Yaroslavl Mendeleyev ref. Tutaevo 3.35 Gasoil Antipinski refinery Voynovka Gasoil No data No data Gasoil No data Mozhga 0.06 Stable gasoline Orskii refinery Nikel 14.44 Gasoil N. Novgorod refinery Zeletsino 15.60 Stable gasoline Tobolsk petrochemical Tobolsk 51.22 Gasoil Nizhnekamsk ref. (Taif) Biklyan 13.38 Stable gasoline Uralorgsintez Kauchuk 5.14 © 2014 Argus Media Ltd www.argusmedia.com Page 29 Argus Nefte Transport — Rail exports July 2014 Russian rail exports in detail, Jun Destination ’000t Freight Stable gasoline Sender Yaroslavl refinery Station Novoyaroslavskaya Volume 27.80 Butane No data No data 0.08 Butane Tobolsk-Neftekhim Tobolsk 51.10 Destination Freight Propane-butane fr. Sender Orenburg GPP Station Kargala Volume 3.91 Propane-butane fr. Permneftegazpererabotka Osentsy 2.34 Total Chop 8.43 4.95 Total Hungary No data 1.81 Poland Allaguvat 46.71 Aksarayskaya-2 2.11 Surgut 70.10 Slack wax distillate Novokuibyshev refinery Novokuibyshevskaya 0.45 Gas condensate dist. Urengoigazprom Syvdarma 20.77 Slack wax distillate Omsk refinery Kombinatskaya 0.74 Slack wax distillate Ufaneftekhim Zagorodnyaya Slack wax distillate Transit (Kazakhstan) Ozinki 0.61 Gasoil Kirishi refinery Kirishi 14.31 Paraffin N. Novgorod refinery Zeletsino 0.10 Fuel oil Kirishi refinery Kirishi 590.22 Paraffin Novokuibyshev refinery Novokuibyshevskaya 0.29 Fuel oil Moscow refinery Yanichkino 194.17 Paraffin Perm refinery Osentsy 0.77 Fuel oil No data No data 1.69 Paraffin Yaroslavl refinery Novoyaroslavskaya 0.57 Fuel oil Nizhnekamsk ref. (Taif) Biklyan 38.69 Petrolatum Novokuibyshev refinery Novokuibyshevskaya 0.25 Fuel oil Ryazan refinery Stenkino-2 215.12 Petrolatum Omsk refinery Kombinatskaya 0.06 Fuel oil Yaroslavl refinery Novoyaroslavskaya 267.73 Propane Tobolsk-Neftekhim Tobolsk 2.49 Petrolatum Omsk refinery Kombinatskaya 0.56 Propane Transit (Kazakhstan) Aksarayskaya-2 6.98 Propane Antipinski refinery Voynovka 0.03 Propane-butane fr. Orenburg GPP Kargala 1.07 Propane No data No data 0.03 Propane-butane fr. Permneftegazpererabotka Osentsy 0.29 Propane Tobolsk-Neftekhim Tobolsk 37.96 Propane-butane fr. Tobolsk-Neftekhim Tobolsk 3.02 Gas condensate dist. Astrakhan GPP Aksarayskaya-2 Gas condensate dist. No data Gas condensate dist. Salavatskii refinery Gas condensate dist. Surgut producers Brest 0.55 34.84 Butane Transit (Kazakhstan) Total Ust-Luga 1,967.70 Propane-propylene fr. Ryazan refinery Stenkino-2 0.05 Total North-West ports 3,923.64 Pyrolysis tar Tomskneftekhim Kopylovo 0.18 Pyrolysis tar Perm GPP Osentsy Finland Buslovskaya Alkibenzene Kirishi refinery Kirishi 1.23 Total Brest Stable gasoline Minnibayevskii GPP Kulsharipovo 4.48 Bruzgi Stable gasoline No data No data 0.89 Butane Kirishi refinery Kirishi Butane Minnibayevskii GPP Kulsharipovo Butane No data Butane Omsk refinery Butane Butane-butylene fr. Moscow refinery Yanichkino 0.50 Isobutane Ryazan refinery Stenkino-2 0.79 Propane Transit (Kazakhstan) Aksarayskaya-2 2.05 6.98 Propane-butane fr. Orenburg GPP Kargala 2.76 No data 1.16 Propane-butane fr. Sosnogorsk GPP Vetlasyan 0.67 Kombinatskaya 8.11 Total Bruzgi Permneftegazpererabotka Osentsy 3.47 Izov Butane Transit (Kazakhstan) Aksarayskaya-2 6.00 Butane Ryazan refinery Stenkino-2 1.64 Isobutane Shkapovskii GPP Priyutovo 0.12 Butane Chaikovskii GPP Kauchuk 2.99 Oils and lubricants No data No data 1.02 Butane Chelnynefteprodukt Krugloye Pole 0.06 Propane Tobolsk-Neftekhim Tobolsk Butane Yaroslavl refinery Novoyaroslavskaya 0.16 Propane Transit (Kazakhstan) Aksarayskaya-2 VGO No data No data 0.12 Gas condensate Transit (Kazakhstan) Ozinki Isobutane No data Isobutane Chaikovskii GPP Kauchuk 0.89 No data No data 0.10 No data 0.04 Propane-butane fr. Orenburg GPP Kargala 1.95 Tobolsk-Neftekhim Tobolsk 7.86 Propane-butane fr. Sosnogorsk GPP Vetlasyan Isopentane fr. No data No data 0.45 Propane-butane fr. Tobolsk-Neftekhim Tobolsk Isopentane fr. Tobolsk-Neftekhim Tobolsk 6.83 Propane-butane fr. Yuzhno-Urals Co Kargala Oils and lubricants Perm refinery Osentsy 1.77 Total Izov Mamonovo 4.75 18.72 0.72 48.08 Other dark products Transit (Kazakhstan) Ozinki 18.45 Butane No data No data Crude oil Transit (Kazakhstan) Ozinki 16.04 Butane Tobolsk-Neftekhim Tobolsk 1.51 Paraffin Kirishi refinery Kirishi 3.03 Butane Transit (Kazakhstan) Aksarayskaya-2 0.57 Paraffin No data No data 0.05 Butane-butylene fr. Moscow refinery Yanichkino 0.36 Pentane fr. Tobolsk-Neftekhim Tobolsk 0.08 Isobutane Shkapovskii GPP Priyutovo 0.35 Pyrobenzene Kirishi refinery Kirishi 0.12 Propane No data No data 0.07 Propane Zaikinskii GPP Tyulpan 0.66 Propane Tobolsk-Neftekhim Tobolsk 3.69 Propane Tobolsk-Neftekhim Tobolsk 3.01 Propane Transit (Kazakhstan) Aksarayskaya-2 0.12 Propane-butane fr. No data No data 0.21 Propane Transit (Lithuania) Nesterov 0.04 Propane-butane fr. Permneftegazpererabotka Osentsy 0.36 Propane-butane fr. Orenburg GPP Kargala 2.67 Propane-butane fr. Sosnogorsk GPP Vetlasyan 1.95 Propane-butane fr. Permneftegazpererabotka Osentsy 0.39 Propane-butane fr. Tobolsk-Neftekhim Tobolsk 11.77 Propane-butane fr. Tobolsk-Neftekhim Tobolsk 6.39 Propane-butane fr. Ekogazservis Sapernaya 0.48 Propane-butane fr. Yuzhno-Urals Co Kargala 0.83 Others No data No data 0.09 Propane-propylene fr. Ryazan refinery Stenkino-2 1.56 Heating oil Transit (Kazakhstan) Aksarayskaya-2 0.35 Other LPG Nesterov 130.26 Transit (Lithuania) 0.04 0.21 Total Mamonovo Svisloch Butane 18.78 Propane Minnibayevskii GPP Kulsharipovo 1.83 Aksarayskaya-2 0.62 Propane Transit (Kazakhstan) Aksarayskaya-2 0.97 Slack wax distillate Novokuibyshev refinery Novokuibyshevskaya 0.85 2.80 Slack wax distillate Omsk refinery Kombinatskaya Transit (Kazakhstan) 0.96 Bitumen Kirishi refinery Kirishi 4.71 Paraffin Perm refinery Osentsy 0.39 Bitumen No data No data 0.06 Propane Transit (Kazakhstan) Aksarayskaya-2 1.60 4.77 Propane-butane fr. Orenburg GPP Kargala 0.31 137.82 Propane-butane fr. Permneftegazpererabotka Osentsy 0.29 Broad fraction Salavatskii refinery Salavat 0.21 Butane Tobolsk-Neftekhim Tobolsk 0.59 1.39 Total Finland Hungary Butane Novokuibyshevsk petchem. Novokuibyshevskaya 1.15 Total Svisloch Butane Omsk refinery Kombinatskaya 4.97 Yagodin Butane Tobolsk-Neftekhim Tobolsk 9.07 Butane Chaikovskii GPP Kauchuk Pentane fr. Tobolsk-Neftekhim Tobolsk 0.77 Propane Tobolsk-Neftekhim Tobolsk 1.50 Propane Novokuibyshevsk petchem. Novokuibyshevskaya 0.92 Propane Transit (Kazakhstan) Aksarayskaya-2 0.42 Propane Tobolsk-Neftekhim Tobolsk 4.79 Propane Chaikovskii GPP Kauchuk 1.51 Propane Transit (Kazakhstan) Aksarayskaya-2 1.48 Propane-butane fr. Permneftegazpererabotka Osentsy 0.25 Propane-butane fr. Orenburg GPP Kargala 0.23 Propane-butane fr. Tobolsk-Neftekhim 3.01 Propane-butane fr. Sosnogorsk GPP Vetlasyan 1.99 Total Yagodin Propane-butane fr. Transit (Kazakhstan) Aksarayskaya-2 1.05 Total Poland Propane Minnibayevskii GPP Kulsharipovo Total Batevo Chop 0.30 13.51 Propane-butane fr. Total Svetogorsk Batevo 6.78 Propane Total Vyartsilya Svetogorsk 10.00 15.40 Total Buslovskaya Vyartsilya 0.28 20.31 26.42 2.18 5.22 Tobolsk 8.68 107.85 Romania Giurgiulesti Slack wax distillate Volgograd refinery © 2014 Argus Media Ltd www.argusmedia.com No data 0.10 Page 30 Argus Nefte Transport — Rail exports July 2014 Russian rail exports in detail, Jun Destination Freight Oils and lubricants ’000t Sender Volgograd refinery Station No data Volume 0.84 Kargala 7.62 Fuel oil Ilskii NPZ Ilskaya 69.57 Tobolsk 0.49 Fuel oil No data Protoka 13.51 Other LPG Transit (Kazakhstan) Aksarayskaya-2 1.47 Novorossiysk Gasoil Antipinski refinery Voynovka 4.45 10.53 Gasoil Afipskii refinery Afipskaya 29.28 29.97 Butane Transit (Kazakhstan) 0.32 Gasoil Volgograd refinery No data Isobutane Novokuibyshevsk petchem. Novokuibyshevskaya Aksarayskaya-2 0.19 Gasoil Ilskii NPZ Ilskaya Propane Transit (Kazakhstan) Aksarayskaya-2 4.20 Gasoil Mariy El refinery Nuzhyaly 25.76 Propane Chaikovskii GPP Kauchuk 0.49 Gasoil No data No data 15.19 Propane-butane fr. Yuzhno-Urals Co Kargala 0.49 Gasoil No data Syzran-1 5.69 Gasoil Novokuibyshev refinery Novokuibyshevskaya 77.16 7.22 0.49 Oils and lubricants Omsk refinery Kombinatskaya 0.10 Gasoil Omsk refinery Kombinatskaya 38.12 Oils and lubricants Ufaneftekhim Zagorodnyaya 0.17 Gasoil Orskii refinery Nikel 40.62 0.28 Gasoil Salavatskii refinery Allaguvat 0.19 Gasoil Saratov refinery Neftyanaya 67.87 0.19 Gasoil Transnefteprodukt Nikolskoye 78.00 16.69 Gasoil Transnefteprodukt Petropavlovsk 0.06 Gasoil Ufaneftekhim Zagorodnyaya 30.07 Propane-butane fr. Orenburg GPP Kargala Total Romania Slovakia 0.76 Butane No data No data 0.07 Fuel oil Kuibyshev refinery Kryazh 78.79 Propane-butane fr. Permneftegazpererabotka Osentsy 0.26 Fuel oil No data No data 9.04 0.33 Fuel oil No data Syzran-1 Total Uzhgorod Chop Volume 214.77 Orenburg GPP Total Vadul-Siret Uzhgorod Station Afipskaya Tobolsk-Neftekhim Total Ungen Vadul-Siret Sender Afipskii refinery Propane-butane fr. Total Dyakovo Ungen Freight Fuel oil Propane-butane fr. Total Giurgiulesti Dyakovo Destination 0.45 Butane Tobolsk-Neftekhim Tobolsk 0.19 Fuel oil Novokuibyshev refinery Novokuibyshevskaya 15.07 Propane Tobolsk-Neftekhim Tobolsk 0.76 Fuel oil Novoufimsk refinery Novoufimskaya Propane Transit (Kazakhstan) Aksarayskaya-2 4.10 Fuel oil Syzran refinery Kashpir 134.99 Propane-butane fr. Transit (Kazakhstan) Aksarayskaya-2 12.93 0.36 Fuel oil Ufa refinery Benzin 22.68 Total Chop 5.41 Oils and lubricants Volgograd refinery No data 5.34 Total Slovakia 5.74 Oils and lubricants Perm refinery Osentsy 0.29 Oils and lubricants Transit (Kazakhstan) Ozinki 1.82 0.03 Heating oil No data No data Total Chop 0.03 Heating oil Transit (Kazakhstan) Aksarayskaya-2 Total in/through Czech Republic 0.03 Fuel oil No data No data 1.46 Fuel oil Salavatskii refinery Allaguvat 19.99 Butane No data No data 0.14 0.24 Czech Republic Chop Propane Transit (Kazakhstan) Aksarayskaya-2 Azov-Black Sea basin ports Azov 1,347.56 Gas condensate dist. Astrakhan GPP Aksarayskaya-2 8.55 Gas condensate dist. No data No data 0.05 Total Taganrog Gasoil No data No data 0.07 Taman Fuel oil No data No data 1.97 Butane No data Syzran-1 Fuel oil Transit (Kazakhstan) Aksarayskaya-2 6.02 Butane Nizhnekamsk refinery Sobolekovo 1.29 16.65 Butane Omsk refinery Kombinatskaya 3.00 21.45 Fuel oil No data No data 0.12 Gas condensate No data No data Fuel oil Syzran refinery Kashpir 0.41 Gas condensate Transit (Kazakhstan) Ozinki Fuel oil Transit (Kazakhstan) Aksarayskaya-2 4.03 Other fuel oil Kaspii-1 Tarki 4.56 Fuel oil Krasnodar refinery Krasnodar-1 Total Yeysk Kavkaz Total Novorossiysk Taganrog Total Azov Yeysk 0.85 17.26 Other gasoline Kuibyshev refinery Kryazh 10.44 Fuel oil No data No data Other gasoline No data No data 0.10 Fuel oil Orskii refinery Nikel Gasoil No data No data 0.06 Crude oil No data No data Gasoil Nizhnekamsk ref. (Taif) Biklyan 1.70 Crude oil Transit (Kazakhstan) Aksarayskaya-2 0.85 29.98 5.48 92.94 14.24 121.54 0.44 54.51 Gasoil Novokuibyshev refinery Novokuibyshevskaya 7.92 Propane Minnibayevskii GPP Kulsharipovo 3.99 Fuel oil No data No data 3.03 Other LPG No data No data 0.07 Fuel oil Transit (Kazakhstan) Aksarayskaya-2 107.02 Other LPG Transit (Kazakhstan) Ozinki Oils and lubricants Volgograd refinery No data 0.05 Total Taman Oils and lubricants Omsk refinery Kombinatskaya 0.06 Temryuk Butane Zaikinskii GPP Tyulpan 6.37 Oils and lubricants Transit (Kazakhstan) Aksarayskaya-2 0.30 Butane Korobkovskii GPP Lapshinskaya 0.68 Petrolatum Volgograd refinery No data 0.05 Butane No data No data 0.30 Propane Zaikinskii GPP Tyulpan 1.44 Butane No data Syzran-1 0.13 Propane-butane fr. Orenburg GPP Kargala 5.65 Butane Novokuibyshevsk petchem. Novokuibyshevskaya 5.70 Other LPG Transit (Kazakhstan) Ozinki 3.98 Isobutane No data No data 0.03 141.80 Isobutane No data Syzran-1 Isobutane Novokuibyshevsk petchem. Novokuibyshevskaya 3.41 Total Kavkaz CPC 3.96 332.67 0.11 Getmanovs- Gas condensate No data No data 1.39 Propane Zaikinskii GPP Tyulpan 3.00 kaya Gas condensate Purneftegaz Purpe 8.06 Propane No data No data 0.29 Gas condensate Syzran refinery Syzran-1 0.06 Propane No data Syzran-1 0.06 Gas condensate Tobolsk-Neftekhim Tobolsk 0.06 Propane Novokuibyshevsk petchem. Novokuibyshevskaya 2.99 Gas condensate Urengoi refinery Syvdarma 24.23 Propane-butane fr. Korobkovskii GPP Lapshinskaya 0.68 Crude oil Dagneft Novaya Zhizn 57.11 Propane-butane fr. No data No data 0.15 Crude oil Ingushneftegazprom Karabulakskiy 3.56 Propane-butane fr. No data Osentsy 0.04 Crude oil Krasnodarneftegaz Konokovo 2.43 Propane-butane fr. Orenburg GPP Kargala 1.98 Crude oil No data No data 2.51 Propane-butane fr. Permneftegazpererabotka Osentsy 0.68 Crude oil No data Tikhoretskaya 0.06 Other LPG Transit (Kazakhstan) Crude oil Orenburgneft Krotovka Crude oil Syzran refinery Syzran-1 Crude oil Preobrazhenskneft Novosergievskaya Crude oil Rosneft head office Chervlennaya Total CPC 134.03 0.33 3.21 Total Temryuk Tuapse 29.80 Naphtha Kaspii-1 Tarki 42.00 Naphtha Kuibyshev refinery Kryazh 20.08 20.47 Naphtha No data No data 4.36 296.30 Naphtha No data Syzran-1 Naphtha Novokuibyshev refinery Novokuibyshevskaya Novorossiysk Grushevaya Ozinki 3.62 0.35 30.39 Gasoil Afipskii refinery Afipskaya 140.41 Naphtha Purneftegaz Purpe Gasoil Volgograd refinery No data 164.64 Naphtha Syzran refinery Kashpir Gasoil No data No data 0.06 Other gasoline Afipskii refinery Afipskaya 78.82 Gasoil No data Ahtyrskaya 0.06 Other gasoline Volgograd refinery No data 23.00 © 2014 Argus Media Ltd www.argusmedia.com 2.02 2.66 Page 31 Argus Nefte Transport — Rail exports July 2014 Russian rail exports in detail, Jun Destination Freight Other gasoline Other gasoline Other gasoline Other gasoline Gasoil Gasoil Gasoil Gasoil Fuel oil Fuel oil Total Tuapse Ilichevsk Butane Butane Butane Butane Butane Butane Isobutane Isobutane Isobutane Isobutane Propane Propane Propane Propane Propane Total Ilichevsk Kerch Motor gasoline Gasoil Southern Motor gasoline kerch Other fuel oil Propane-butane fr. Propane-butane fr. Kerch Butane Butane Butane Butane Butane-butylene fr. Propane Propane Propane Propane Propane Propane-butane fr. Propane-butane fr. Propane-butane fr. Propane-butane fr. Propane-butane fr. Propane-butane fr. Propane-butane fr. Other LPG Total Kerch Odessa Butane Butane Butane Butane Butane Butane Isobutane Propane Propane Propane Propane Oils and lubricants Total Odessa Reni Gasoil Total Reni Feodosia Aivazovskaya Motor gasoline Motor gasoline Motor gasoline Motor gasoline Motor gasoline Total Feodosia Total Azov-Black Sea basin ports Far East Vanino Stable gasoline Stable gasoline Total Vanino Vostochny Gasoil Gasoil Gasoil ’000t Sender Ilskii NPZ Krasnodar refinery No data Piter Kaspii-1 Krasnodar refinery No data Piter No data Ryazan refinery Station Ilskaya Krasnodar-1 No data Goryachiy Klyuch Tarki Krasnodar-1 No data Goryachiy Klyuch No data Stenkino-2 No data Novokuibyshevsk petchem. Tobolsk-Neftekhim Tuimazy GPP Chaikovskii GPP Shkapovskii GPP No data Novokuibyshevsk petchem. Tobolsk-Neftekhim Chaikovskii GPP No data No data Novokuibyshevsk petchem. Tobolsk-Neftekhim Chaikovskii GPP No data Novokuibyshevskaya Tobolsk Tuimazy Kauchuk Priyutovo No data Novokuibyshevskaya Tobolsk Kauchuk No data Syzran-1 Novokuibyshevskaya Tobolsk Kauchuk Saratov refinery No data Ufa refinery Orskii refinery Korobkovskii GPP Surgut producers No data No data Novokuibyshevsk petchem. Omsk refinery Moscow refinery Zaikinskii GPP No data No data No data Novokuibyshevsk petchem. Kuibyshev refinery No data Orenburg GPP Permneftegazpererabotka Pokrovskaia unit Syzran refinery Yaroslavl refinery Transit (Kazakhstan) Neftyanaya No data Benzin Nikel Lapshinskaya Surgut No data Novoperelyubskaya Novokuibyshevskaya Kombinatskaya Yanichkino Tyulpan No data Novoperelyubskaya Syzran-1 Novokuibyshevskaya Kryazh No data Kargala Osentsy Tyulpan Kashpir Novoyaroslavskaya Aksarayskaya-2 No data Nizhnekamsk refinery Tobolsk-Neftekhim Transit (Kazakhstan) Tuimazy GPP Chaikovskii GPP Tobolsk-Neftekhim No data Tobolsk-Neftekhim Transit (Kazakhstan) Chaikovskii GPP Volgograd refinery No data Sobolekovo Tobolsk Aksarayskaya-2 Tuimazy Kauchuk Tobolsk No data Tobolsk Aksarayskaya-2 Kauchuk No data No data No data No data Novokuibyshev refinery Novoufimsk refinery Saratov refinery Ufaneftekhim No data Novokuibyshevskaya Novoufimskaya Neftyanaya Zagorodnyaya No data Yaisk No data Sudgenka Angarsk refinery Komsomolsk refinery No data Sukhovskaya Dzemgi No data Volume 40.70 35.99 0.69 0.05 3.74 44.95 0.12 0.30 7.39 170.02 469.26 0.04 4.55 7.78 0.50 2.44 0.48 0.22 2.36 2.91 0.62 0.06 0.09 4.17 4.93 3.29 34.44 0.12 0.39 0.15 1.00 0.21 0.86 0.61 0.02 7.01 2.66 3.57 3.98 0.84 0.05 0.03 2.16 0.32 2.47 1.35 1.77 0.16 0.99 0.17 1.08 31.97 0.11 3.50 13.29 15.57 0.50 1.71 3.46 0.10 7.47 10.14 3.45 2.11 61.42 0.38 0.38 0.40 0.54 0.46 0.12 0.18 1.70 2,789.96 2.86 4.99 7.84 15.43 56.97 5.27 Destination Freight Gasoil Oils and lubricants Total Vostochny Nakhodka Krabovaya Other gasoline Other gasoline Other gasoline Other gasoline Gasoil Gasoil Gasoil Gasoil Fuel oil Fuel oil Fuel oil Fuel oil Fuel oil Total Nakhodka Slavyanka (Blyukher) Blyukher Gasoil Gasoil Gasoil Total Slavyanka (Blyukher) Total Far East China Naushki Fuel oil Oils and lubricants Total Naushki Total China Korea Khasan Oils and lubricants Total Hasan Toal Korea Mongolia Naushki Jet kerosine Motor gasoline Motor gasoline Motor gasoline Bitumen Bitumen Butane Butane Butane Butane Gasoil Gasoil Gasoil Gasoil Fuel oil Oils and lubricants Oils and lubricants Oils and lubricants Propane Others Others Total Naushki Solovyevsk Motor gasoline Gasoil Gasoil Total Solovyevsk Biysk Motor gasoline Total Biysk Total Mongolia Afghanistan Galaba Jet kerosine Jet kerosine Motor gasoline Motor gasoline Gasoil Total Galaba Total Afghanistan South Ossetia Vladikavkaz Motor gasoline Total Vladikavkaz Total South Ossetia Oktyabrsk VGO (river teminals) VGO Other fuel oil Other fuel oil Total Oktyabrsk (river terminals) Sender Khabarovsk refinery No data Station Khabarovsk-2 No data Volume 7.25 0.35 85.26 Angarsk refinery Komsomolsk refinery No data Khabarovsk refinery Angarsk refinery Komsomolsk refinery No data Khabarovsk refinery Angarsk refinery Komsomolsk refinery No data No data Khabarovsk refinery Sukhovskaya Dzemgi No data Khabarovsk-2 Sukhovskaya Dzemgi No data Khabarovsk-2 Sukhovskaya Dzemgi No data Krutchina Khabarovsk-2 11.55 92.87 4.97 4.73 82.05 108.76 7.89 5.03 117.97 32.50 4.72 0.06 3.65 476.73 Angarsk refinery No data Khabarovsk refinery Sukhovskaya No data Khabarovsk-2 26.29 2.64 0.97 29.89 599.72 Angarsk refinery Angarsk refinery Sukhovskaya Sukhovskaya 19.34 5.59 24.94 24.94 No data No data Angarsk refinery Angarsk refinery Orskii refinery Transit (Byelarus) No data Ryazan refinery Tobolsk-Neftekhim Transit (Kazakhstan) Tuimazy GPP Shkapovskii GPP Angarsk refinery No data Omsk refinery Yaisk No data No data Omsk refinery Transit (Byelarus) Tobolsk-Neftekhim No data Ufa refinery Sukhovskaya Sukhovskaya Nikel Krasnoye No data Stenkino-2 Tobolsk Kulunda (Kazakhstan) Tuimazy Priyutovo Sukhovskaya Zui Kombinatskaya Sudgenka Zui No data Kombinatskaya Krasnoye Tobolsk No data Benzin Angarsk refinery Angarsk refinery Yaisk Sukhovskaya Sukhovskaya Sudgenka Orskii refinery Nikel Nizhnekamsk ref. (Taif) Orskii refinery Orskii refinery Salavatskii refinery Nizhnevartovsk refinery Biklyan Nikel Nikel Allaguvat Nizhnevartovsk-2 2.39 14.90 3.09 0.98 0.95 22.32 22.32 Novokuibyshev refinery Novokuibyshevskaya No data Salavatskii refinery No data Orskii refinery No data Allaguvat No data Nikel 0.18 0.18 0.18 0.19 37.34 1.30 52.43 91.26 Grand total © 2014 Argus Media Ltd www.argusmedia.com 0.05 0.05 0.05 2.54 24.30 0.53 0.06 3.61 0.30 0.41 0.46 0.52 0.08 32.47 3.56 2.37 26.91 0.85 0.09 0.07 0.03 0.48 0.06 0.24 99.93 0.89 0.61 1.04 2.54 0.61 0.61 103.09 9,001.25 Page 32 Argus Nefte Transport — River shipments July 2014 River shipments, May t Departure Shipowner Cargo Destination Charterer Supplier Volume Kstovo V.F. Tanker Fuel oil Rybinsk Lukoil Litasco 123,895 Nizhnekamsk Smart Shipping VGO Yaroslavl Taif Ipco Nizhnekamsk Smart Shipping VGO Yaroslavl Gazprom na 5,336 Nizhnekamsk Smart Shipping VGO Saint-Petersburg Gazprom na 10,745 Kstovo total 123,895 16,146 Nizhnekamsk Kontur Fuel oil Saint-Petersburg Gazprom na 5,437 Nizhnekamsk V.F. Tanker VGO Kavkaz Taneco Greendale 9,570 Nizhnekamsk Bunker plus VGO Yaroslavl Taif Ipco 4,194 Nizhnekamsk Bunker plus VGO Yaroslavl Gazprom na 4,140 Nizhnekamsk Temp plus VGO Yaroslavl Taif Ipco 44,484 Nizhnekamsk Temp plus VGO Yaroslavl Gazprom na 10,173 Nizhnekamsk SV Tanker VGO Kavkaz Taneco Greendale 3,859 Nizhnekamsk Volgotrans (Samara) VGO Kavkaz Taneco Greendale 21,476 12,566 Nizhnekamsk Volga Tanker Co VGO Kavkaz Taneco Greendale Nizhnekamsk Volgoflottanker VGO Yaroslavl Taif Ipco Nizhnekamsk total 5,304 153,430 Nizhniye Mully Yarbunker VGO Yaroslavl Lukoil Somitekno 26,970 Nizhniye Mully V.F. Tanker VGO Yaroslavl Lukoil Somitekno 40,287 Transpetrochart VGO Kavkaz na na 14,155 Nizhniye Mully total Oktyabrsk 67,257 Oktyabrsk Transpetrochart VGO Kerch na na 3,822 Oktyabrsk Volgatransservice VGO Kavkaz na na 4,557 Oktyabrsk Volgatransservice VGO Kavkaz Fortinvest Palmali 9,204 Oktyabrsk Volgatransservice VGO Rostov-on-Don na na 8,480 Oktyabrsk Azovtransterminal VGO Kavkaz na na 4,020 Oktyabrsk Azovtransterminal VGO Kavkaz Fortinvest Palmali 3,027 Oktyabrsk Azovtransterminal VGO Kerch Fortinvest Palmali 3,076 Oktyabrsk Middle-Volga Shipping Co Fuel oil Kerch na na 4,730 Oktyabrsk Palmali VGO Kavkaz Fortinvest Palmali 4,379 Oktyabrsk Volgotransneft VGO Volgograd na na 4,153 Oktyabrsk Marshall VGO Kavkaz Fortinvest Palmali 5,942 Oktyabrsk Enisey VGO Kavkaz na na 4,434 Oktyabrsk Samarashipping VGO Kavkaz na na Oktyabrsk Samarashipping VGO Kavkaz Fortinvest Palmali 8,727 22,574 Oktyabrsk Temp plus VGO Kavkaz Fortinvest Palmali 4,559 Oktyabrsk Transflot (Samara) VGO Kavkaz Fortinvest Palmali 4,767 Samara Navigator Fuel oil Kavkaz Rosneft Rosneft Samara Prime Shipping gasoil Kavkaz Rosneft Rosneft 2,637 Samara Volgatransservice Fuel oil Kavkaz Rosneft Rosneft 13,706 154,478 Oktyabrsk total 114,606 42,040 Samara Bashvolgotanker Fuel oil Kavkaz Rosneft Rosneft Samara Bashvolgotanker Fuel oil Kerch Rosneft Rosneft 3,931 Samara Bashvolgotanker Fuel oil Rostov-on-Don Rosneft Rosneft 4,400 13,226 Samara Oil Marine Group Fuel oil Kavkaz Rosneft Rosneft Samara V.F. Tanker Fuel oil Kavkaz Rosneft Rosneft 4,651 Samara V.F. Tanker gasoil Kavkaz Rosneft Rosneft 10,460 Samara Contur SPB Fuel oil Kavkaz Rosneft Rosneft 17,774 Samara Volgotrans (Samara) Fuel oil Kavkaz Rosneft Rosneft 22,171 Samara Volga Tanker Co Fuel oil Kavkaz Rosneft Rosneft 4,568 Samara Baltiyskaya gasoil Kavkaz Rosneft Rosneft 2,639 Samara Baltiyskaya gasoil Rostov-on-Don Rosneft Rosneft Samara total 2,650 299,331 Saratov Prime Shipping VGO Kavkaz Rosneft Rosneft 21,852 Saratov Prime Shipping VGO Kerch Rosneft Rosneft 16,927 Saratov Prime Shipping Fuel oil Kavkaz Rosneft Rosneft 36,400 Saratov Prime Shipping Fuel oil Kerch Rosneft Rosneft 27,349 Saratov Prime Shipping gasoil Kavkaz Rosneft Rosneft 4,458 Saratov Prime Shipping gasoil Kerch Rosneft Rosneft 21,270 13,311 Saratov Volgatransservice VGO Kerch Rosneft Rosneft Saratov Bashvolgotanker VGO Kavkaz Rosneft Rosneft 4,401 Saratov Bashvolgotanker VGO Kerch Rosneft Rosneft 4,287 Saratov Bashvolgotanker Fuel oil Kavkaz Rosneft Rosneft 8,393 Saratov Bashvolgotanker Fuel oil Kerch Rosneft Rosneft 4,147 12,975 Saratov Oil Marine Group VGO Kavkaz Rosneft Rosneft Saratov Oil Marine Group Fuel oil Kavkaz Rosneft Rosneft 4,250 Saratov Oil Marine Group Fuel oil Kerch Rosneft Rosneft 8,718 Saratov V.F. Tanker VGO Kavkaz Rosneft Rosneft 10,442 © 2014 Argus Media Ltd www.argusmedia.com Page 33 Argus Nefte Transport — River shipments July 2014 River shipments, May Departure t Shipowner Cargo Destination Charterer Supplier Volume Saratov V.F. Tanker gasoil Kavkaz Rosneft Rosneft 10,141 Saratov V.F. Tanker gasoil Kerch Rosneft Rosneft 15,078 16,810 Saratov Volgotrans (Samara) VGO Kavkaz Rosneft Rosneft Saratov Volgotrans (Samara) VGO Kerch Rosneft Rosneft 8,733 Saratov Volgotrans (Samara) Fuel oil Kerch Rosneft Rosneft 4,447 Saratov Samaratransshipping gasoil Kerch Rosneft Rosneft 4,650 Saratov Transoptimal-Rostov VGO Kavkaz Rosneft Rosneft 14,782 Saratov Transoptimal-Rostov VGO Kerch Rosneft Rosneft 5,004 Saratov Transoptimal-Rostov Fuel oil Kavkaz Rosneft Rosneft 4,232 Saratov Transoptimal-Rostov Fuel oil Kerch Rosneft Rosneft Saratov total 4,834 287,891 Syzran Prime Shipping gasoil Kavkaz Rosneft Rosneft 21,009 Syzran Prime Shipping gasoil Rostov-on-Don Rosneft Rosneft 2,610 Syzran Prime Shipping Bunker Oil Kavkaz Rosneft Rosneft 4,611 Syzran Yarbunker gasoil Kavkaz Rosneft Rosneft 3,000 Syzran Volgatransservice gasoil Bolgary Rosneft Rosneft 4,000 Syzran Volgatransservice Bunker Oil Bolgary Rosneft Rosneft 4,525 Syzran Oil Marine Group VGO Kavkaz Rosneft Rosneft 4,260 Syzran Oil Marine Group gasoil Kavkaz Rosneft Rosneft 12,958 Syzran Volgotransneft VGO Tatyanka Rosneft Rosneft 8,156 Syzran V.F. Tanker gasoil Kavkaz Rosneft Rosneft 10,147 Syzran V.F. Tanker Bunker Oil Kavkaz Rosneft Rosneft 5,243 Syzran Contur SPB gasoil Kavkaz Rosneft Rosneft 5,368 Syzran Transflot (Samara) Fuel oil Kavkaz Rosneft Rosneft 4,730 Syzran Commodor gasoil Kavkaz Rosneft Rosneft 2,952 Syzran Samaratransshipping gasoil Kavkaz Rosneft Rosneft 4,668 Syzran Volga Tanker Co gasoil Kavkaz Rosneft Rosneft 10,870 Tatyanka Palmali VGO Kavkaz Lukoil Litasco 34,498 Tatyanka Palmali VGO Kerch Lukoil Litasco 148,071 Syzran total 109,107 Tatyanka Palmali VGO Rostov-on-Don Lukoil Litasco 1,853 Tatyanka Palmali Oils and lubricants Feodosia Lukoil Litasco 15,895 Tatyanka Palmali Gasoline Astrakhan Lukoil Litasco 6,951 Tatyanka Palmali gasoil Astrakhan Lukoil Litasco 2,627 Tatyanka V.F. Tanker Gasoline Rostov-on-Don Lukoil Litasco Tatyanka total Ufa 5,202 215,097 Bashvolgotanker VGO Yaroslavl Bashneft Somitekno Kashpir Navigator Fuel oil Kavkaz Rosneft Rosneft 4,665 Kashpir Bashvolgotanker Fuel oil Kavkaz Rosneft Rosneft 34,893 Kashpir Transflot (Samara) Fuel oil Kavkaz Rosneft Rosneft Ufa total 176,284 176,284 Kashpir total 9,413 48,971 Aladzha na na na na na Yablonyevy Ovrag Volgatransservice VGO Kavkaz Rosneft Rosneft Yablonyevy Ovrag V.F. Tanker VGO Kavkaz Rosneft Rosneft Yablonyevy Ovrag total 0 13,184 5,260 18,444 Nizhny Novgorod na na na na na Turkmenistan Palmali Naphta Batumi Turkmenistan Nord Trading 0 4,531 Turkmenistan South Russi Naphta Azov Turkmenistan Inverion Petroleum 4,849 Turkmenistan MRP-Tanker Gasoline Rostov-on-Don Turkmenistan Anckmor Gas&Oil 10,540 Turkmenistan V.F. Tanker Fuel oil Kerch Turkmenistan Oxton/Anckmore 5,220 Turkmenistan V.F. Tanker Fuel oil Azov Turkmenistan Nord Trading 5,230 Turkmenistan V.F. Tanker Fuel oil Rostov-on-Don Turkmenistan Milio International 4,883 Turkmenistan V.F. Tanker Fuel oil Rostov-on-Don Turkmenistan Oxton 5,137 Turkmenistan V.F. Tanker gasoil Bulgaria Turkmenistan Antica Maritime 5,242 Turkmenistan Viking Yug Fuel oil Odessa Turkmenistan Atlanta Trading 4,678 Turkmenistan River-sea gasoil Azov Turkmenistan Fedmor 2,751 Turkmenistan River-sea gasoil Rostov-on-Don Turkmenistan Fedmor 2,691 Turkmenistan Transflot (Samara) Naphta Rostov-on-Don Turkmenistan Nord Trading 4,600 Turkmenistan Odyssey Shipping Kerosene Rostov-on-Don Turkmenistan Antica Maritime 2,672 Turkmenistan Regul gasoil Kerch Turkmenistan Antica Maritime Turkmenistan total 2,731 65,755 Astrakhan V.F. Tanker Fuel oil Rostov-on-Don Turkmenistan Oxton 5,227 Astrakhan Viking Yug Fuel oil Kerch na na 4,435 Middle-Volga Shipping Co gasoil Kerch na na 3,928 Astrakhan total Tchitopol 9,662 Tchitopol total 3,928 Grand total 1,693,658 © 2014 Argus Media Ltd www.argusmedia.com Page 34 Argus Nefte Transport — Pipeline tariffs July 2014 Transneft pipeline tariffs for crude Tariff (Rbs/t per 100km) 8.65 9.28 10.80 15.55 13.51 15.02 17.92 14.10 16.34 22.50 28.00 16.36 (US$/t per 100km) 0.25 $/Rbs exchange = 35.0387 Sibnefteprovod Central Siberian trunk pipelines Trans-Siberian trunk pipelines East trunk pipelines Urals-Siberian trunk pipelines Northwest trunk pipelines Verkhne-Volzhskiye trunk pipelines Privolzhskiye trunk pipelines Druzhba Black Sea trunk pipelines North trunk pipelines Baltnefteprovod Sibnefteprovod Central Siberian trunk pipelines Trans-Siberian trunk pipelines East trunk pipelines Urals-Siberian trunk pipelines Northwest trunk pipelines Verkhne-Volzhskiye trunk pipelines Privolzhskiye trunk pipelines Druzhba Black Sea trunk pipelines North trunk pipelines Baltnefteprovod VAT is not included Dispatching (Rbs/t per 100km) 27.41 27.41 27.41 27.41 27.41 27.41 27.41 27.41 27.41 27.41 27.41 27.41 (US$/t per 100km) 0.78 0.78 0.78 0.78 0.78 0.78 0.78 0.78 0.78 0.78 0.78 0.78 0.26 0.31 0.44 0.39 0.43 0.51 0.40 0.47 0.64 0.80 0.47 Transnefteprodukt pipeline tariffs for products Refinery Destination (loading point) $/Rbs exchange = 35.0387 Moscow Latvian border (Ilukste) Bryansk Gomel Novograd-Volynsky Hungarian state border Kalush tank farm Ryazan Latvian border (Ilukste) Bryansk Gomel Novograd-Volynsky Hungarian state border Kalush tank farm N.Novgorod Latvian border (Ilukste) Bryansk Gomel Novograd-Volynsky Hungarian state border Kalush tank farm Samara and Syzran Latvian border (Ilukste) Bryansk Gomel Novograd-Volynsky Nikolskoye (Novo. and Tuapse) Hungarian state border Kalush tank farm Perm Latvian border (Ilukste) Bryansk Gomel Novograd-Volynsky Nikolskoye (Novo. and Tuapse) Hungarian state border Kalush tank farm Ufa Latvian border (Ilukste) Bryansk Gomel Novograd-Volynsky Nikolskoye (Novo. and Tuapse) Hungarian state border Kalush tank farm Salavat Latvian border (Ilukste) Bryansk Gomel Novograd-Volynsky Nikolskoye (Novo. and Tuapse) Hungarian state border Kalush tank farm Omsk Latvian border (Ilukste) Bryansk Gomel Novograd-Volynsky Nikolskoye (Novo. and Tuapse) Hungarian state border Kalush tank farm Kirishi Primorsk Taneko Latvian border (Ilukste) Bryansk Gomel Novograd-Volynsky Nikolskoye (Novo. and Tuapse) Hungarian state border Kalush tank farm $/t Russia 22.75 17.83 22.75 22.75 22.75 22.75 15.88 10.96 15.88 15.88 15.88 15.88 20.34 15.42 20.34 20.34 20.34 20.34 21.05 16.13 21.05 21.05 8.68 21.05 21.05 44.24 39.32 44.24 44.24 31.87 44.24 44.24 36.84 31.92 36.84 36.84 24.47 36.84 36.84 39.08 34.16 39.08 39.08 26.71 39.08 39.08 62.51 57.59 62.51 62.51 50.14 62.51 62.51 13.90 40.48 35.55 40.48 40.48 28.10 40.48 40.48 Belarus 11.74 2.01 5.23 5.23 5.23 11.74 2.01 5.23 5.23 5.23 11.74 2.01 5.23 5.23 5.23 11.74 2.01 5.23 5.23 5.23 11.74 2.01 5.23 5.23 5.23 11.74 2.01 5.23 5.23 5.23 11.74 2.01 5.23 5.23 5.23 11.74 2.01 5.23 – 5.23 5.23 11.74 2.01 5.23 5.23 5.23 Ukraine Dispatching 10.00 23.54 22.50 10.00 23.54 22.50 10.00 23.54 22.50 10.00 23.54 22.50 10.00 23.54 22.50 10.00 23.54 22.50 10.00 23.54 22.50 10.00 – 23.54 22.50 10.00 23.54 22.50 © 2014 Argus Media Ltd www.argusmedia.com 16.12 10.02 10.02 10.02 7.05 10.02 20.88 10.02 10.02 10.02 7.05 7.39 20.88 10.02 10.02 10.02 7.05 7.39 20.88 6.20 10.02 10.02 2.74 7.05 7.39 20.88 10.02 10.02 10.02 7.52 7.05 7.39 20.88 10.02 10.02 10.02 7.52 5.65 6.28 20.88 10.02 10.02 10.02 7.52 6.99 10.02 16.31 10.02 10.02 10.02 4.28 7.05 7.39 13.90 20.88 10.02 10.02 10.02 2.37 7.05 7.39 Loading 0.62 1.50 14.00 0.62 1.50 14.00 0.62 1.50 14.00 0.62 1.50 14.00 1.50 14.00 1.50 14.00 0.62 1.50 14.00 0.62 0.62 1.50 14.00 0.62 – 0.62 1.50 14.00 0.62 - Total 50.61 28.47 36.28 62.00 58.57 60.50 48.50 21.59 29.41 55.13 51.70 51.00 52.95 26.05 33.87 59.59 56.16 55.46 53.67 22.95 34.58 60.30 11.42 56.87 56.17 76.86 49.34 57.77 83.49 39.38 80.06 79.36 69.45 41.94 50.37 76.09 31.98 71.26 70.85 71.70 44.80 52.61 78.33 34.84 74.85 76.83 90.56 68.23 76.04 101.76 55.04 98.33 97.63 27.80 73.09 46.19 54.01 79.73 31.09 76.29 75.60 Page 35 Argus Nefte Transport — Prices/rail tariffs July 2014 Crude spot prices $/bl 3Q13 North Sea (London close) North Sea Dated 110.30 Urals NWE 110.17 West Mediterranean (London close) Urals 110.68 Siberian Light 112.92 Tengiz 111.35 Azeri Light 114.50 Kirkuk 108.59 Saharan Blend 111.39 Druzhba (London close) Germany 109.05 Poland 109.10 Czech Republic 110.31 Slovakia 109.35 Hungary 109.35 4Q13 1Q14 2Q14 Mar Apr May 109.60 107.68 Jun 30 Jun-4 Jul May 111.67 110.088 108.39 107.428 7-11 Jun 106.918 104.398 14-18 Jun 105.006 103.016 21-24 Jul 105.958 104.245 109.28 107.88 108.17 106.86 109.66 107.47 107.55 106.73 107.62 106.28 109.02 111.58 110.05 112.25 106.79 110.61 107.41 110.50 108.34 111.74 105.44 109.33 108.19 110.79 109.19 112.59 106.72 110.23 106.87 109.22 106.87 110.67 104.90 108.25 107.04 109.13 107.66 110.80 104.97 108.29 107.96 110.68 109.43 112.68 106.71 110.49 109.50 112.48 110.43 114.20 108.42 111.85 108.444 110.338 108.608 112.398 106.838 109.288 105.398 107.168 105.758 109.208 103.668 106.118 103.726 105.256 104.326 107.656 101.756 104.186 104.833 106.270 105.445 108.620 102.708 105.308 106.72 106.63 107.84 106.96 106.96 106.10 105.80 107.34 106.14 106.14 105.52 105.52 106.72 105.61 105.61 105.94 105.94 107.14 106.09 106.09 105.35 105.35 106.55 105.35 105.35 104.92 104.92 106.12 105.12 105.12 106.30 106.30 107.50 106.35 106.35 na na na na na na na na na na na na na na na na na na na na 4Q13 1Q14 2Q14 Mar Apr May 915.19 924.47 930.01 567.28 950.96 915.33 976.13 807.29 911.56 919.49 925.96 575.27 1,025.45 938.86 970.21 791.89 904.85 913.70 920.77 570.99 952.56 911.81 959.49 799.92 909.20 917.00 931.00 571.41 1,018.79 925.60 964.09 785.28 910.56 918.56 921.86 570.51 1,010.28 937.85 968.95 789.83 Jun 30 Jun-4 Jul May 914.75 910.050 922.75 918.050 925.06 924.750 583.48 578.950 1,046.26 1061.800 952.45 955.500 977.24 980.650 800.15 793.425 7-11 Jun 890.700 898.700 906.500 565.550 1048.750 938.300 962.100 760.900 14-18 Jun 883.750 891.750 899.550 564.950 1008.650 937.700 958.850 759.325 21-24 Jul 886.750 894.750 902.563 567.125 990.563 933.375 962.500 764.063 930.43 939.87 948.94 573.55 944.26 927.79 995.63 768.76 930.43 948.47 569.54 950.79 916.75 915.19 935.85 563.28 957.32 903.30 911.56 928.55 571.27 1,030.95 929.45 904.85 930.39 566.99 959.86 899.25 909.20 933.65 567.41 1,023.50 915.96 910.56 924.08 566.51 1,015.63 928.83 914.75 927.96 579.48 1,052.63 942.89 910.050 932.150 574.950 1068.450 945.800 890.700 915.050 561.550 1055.100 928.850 883.750 907.350 560.950 1014.700 928.450 886.750 909.250 563.125 996.563 924.188 927.03 577.57 760.97 910.82 571.28 800.37 906.66 579.25 787.33 900.12 574.99 794.26 904.15 575.41 780.91 906.53 574.44 786.06 909.18 587.48 794.64 905.300 582.950 791.325 885.000 569.550 757.400 877.650 568.950 753.225 881.750 571.125 758.125 Products spot prices $/t 3Q13 NW Europe (London close) Russian gasoil 930.48 German heating oil 939.48 German diesel 955.67 Fuel oil 3.5% 591.00 Gasoline 95RON 1,008.85 Naphtha 906.05 Jet 993.60 VGO low sulphur 789.71 West Mediterranean (London close) Russian gasoil 930.48 French heating oil 955.11 Fuel oil 3.5% 587.00 Gasoline 95RON 1,014.82 Naphtha 895.30 Rotterdam barges (London close) German heating oil 926.22 Fuel oil 3.5% 595.00 VGO low sulphur 783.60 Rail tariffs: Crude and products Crude oil Loading point Krotovka Chervlennaya Tikhoretskaya Privodino Sorochinskaya Novaya Zhizn Znamensk Gasoil Loading point/refinery Volgograd Krasnodar Afipskiy Kirishi Moscow Nizhny-Novgorod Nizhnekamsk Omsk Orsk Saratov Yaroslavl Transnefteprodukt loading points Bryansk-Vostochny Nikolskoye Gasoline Loading point/refinery Kirishi Krasnodar Afipskiy Nizhnekamsk Yaroslavl Omsk Fuel oil Loading point/refinery Volgograd Kirishi Moscow Nizhny-Novgorod Nizhnekamsk Novokuibyshevsk Orsk Perm Ryazan Saratov Ukhta Yaroslavl $/t Novorossiysk (Grushevaya) 54.06 28.41 13.99 72.38 56.86 24.10 49.06 Getmanovskaya 49.34 22.43 7.93 70.50 51.73 16.95 47.20 Arkhangelsk Svetly (Baltisky Les) 47.20 62.04 47.20 44.87 49.06 58.00 7.48 Finland (Buslovskaya) 100.53 129.53 110.26 66.61 103.51 122.02 44.21 Novorossiysk (Grushevaya) 32.56 11.21 10.24 78.46 53.76 64.14 69.01 99.49 73.50 44.71 58.77 Vysotsk Tuapse 73.50 80.70 83.08 17.51 47.24 51.55 64.14 91.79 85.11 66.48 38.42 St Petersburg (Avtovo) 69.46 78.71 78.71 12.24 43.67 47.49 62.08 89.47 83.57 64.38 34.20 Ventspils Kaliningrad Kavkaz 36.12 12.78 12.78 83.33 58.77 69.21 73.50 105.15 76.53 47.24 64.14 66.04 76.31 76.31 26.21 32.46 47.80 70.99 103.48 83.77 57.44 37.62 45.14 53.81 53.81 19.79 19.97 37.57 53.81 85.81 67.84 43.30 24.62 36.30 16.23 15.58 80.34 56.38 66.48 73.50 105.15 76.53 48.69 64.14 53.76 41.95 58.77 56.38 58.77 47.24 54.00 51.80 27.02 44.86 11.74 25.20 56.38 46.17 Ventspils 29.27 84.55 84.55 78.67 41.87 114.56 Vitino 38.41 86.35 86.35 69.16 47.57 96.51 Murmansk 45.83 93.57 93.57 75.60 55.32 103.73 Riga 29.27 84.55 84.55 78.67 41.87 114.56 Tuapse 78.42 12.09 12.09 69.16 60.36 98.92 Novorossiysk 29.64 72.67 49.61 59.39 64.17 52.00 68.17 74.50 45.02 41.14 83.00 54.33 Tuapse 32.93 77.07 54.33 64.17 68.17 54.33 70.79 77.07 49.61 43.61 88.01 59.39 Kavkaz 32.93 74.50 52.00 61.50 68.17 54.33 70.79 77.07 47.46 45.02 85.50 59.39 Odessa 33.14 66.83 30.57 48.39 66.83 49.83 73.37 76.95 35.67 39.94 82.31 41.45 Sevastopol 33.14 71.62 41.45 53.03 66.83 49.83 73.37 78.91 34.40 39.94 86.04 46.46 Vysotsk 68.17 15.47 43.61 47.46 59.39 64.17 78.81 59.39 46.46 61.50 57.14 35.01 St Petersburg 64.17 10.27 40.06 43.61 57.14 59.39 77.07 54.33 42.56 59.39 52.00 30.83 61.22 82.69 70.50 29.38 65.91 78.51 44.87 © 2014 Argus Media Ltd www.argusmedia.com Tallinn 86.19 19.36 48.82 60.49 77.33 83.55 102.60 74.40 56.78 77.33 74.40 40.97 Page 36 Argus Nefte Transport — Export costs July 2014 Russian crude netbacks ($/bl) 23 Jul Primorsk Ust-Luga Urals cif Novorossiysk Novorossiysk (Sib light) 104.86 104.86 105.46 106.91 Freight 2.37 2.41 1.91 1.86 Insurance 0.03 0.03 0.03 0.03 Demurrage and navigation dues 0.17 0.17 0.00 0.00 102.30 102.25 103.52 105.02 Urals fob/daf Port loading 0.31 0.36 0.44 0.43 Export duty 53.38 53.38 53.38 52.12 Transit through Belarus — — — — Transit through Ukraine — — — — Nizhnevartovsk Tariff through Russia 6.92 6.83 6.64 6.05 Netback to Nizhnevartovsk 41.69 41.68 43.06 46.42 Domestic market price, ex-VAT 50.07 50.07 50.07 50.07 Export margin -8.38 -8.39 -7.01 -3.65 Samara Tariff through Russia — 3.41 3.26 — Netback to Samara — 45.10 46.44 — Domestic market price, ex-VAT — 50.63 50.63 — Export margin — -5.53 -4.19 — Usinsk Tariff through Belarus* Tariff through Russia — — — — 5.84 — — — Netback to Usinsk 42.77 — — — Domestic market price, ex-VAT 49.69 — — — Export margin -6.92 — — — *Polotsk-Unecha, †Siberian Light crude Freight rates: Clean products 30,000t Freight rates: Clean 30,000t $/bl 4 Novorossiysk to Augusta 24 Jul = $1.97 3 1 Jul 13 Oct Jan 14 Apr 3 2 $/bl Novorossiysk to Augusta 24 Jul = $3.48 3 2 Jul 13 Oct Jan 14 Apr Freight rates: Clean 30,000t $/bl Ventspils to Genoa 24 Jul = $3.98 2.5 2.0 4 1.5 3 1.0 Oct Jan 14 Apr Freight rates: Clean products 37,000t Freight rates: Clean 37,000t Jul $/bl $/bl $/bl Ventspils to US east coast 24 Jul = $2.14 Oct Jan 14 Apr Jul Freight rates: Crude 100,000t $/bl $/bl Freight rates: Crude 100,000t 3 4 $/bl Butinge to Wilhelmshaven 24 Jul = $2.21 2 3 2 1 2 1 Jul 13 Apr Novorossiysk to Augusta 24 Jul = $1.38 0.5 Jul 13 Jul 5 Ventspils to Wilhelmshaven 24 Jul = $1.58 Jan 14 Freight rates: Crude 135,000t 5 $/bl Freight rates: Clean products 30,000t $/bl Oct Freight rates: Crude 135,000t $/bl 3.0 2 Jul 13 Jul Butinge to Wilhelmshaven 24 Jul = $2.21 0 Jul 13 Jul Freight rates: Fuel oil 30,000t 6 4 Apr Freight rates: Fuel oil 30,000t 7 5 Jan 14 $/bl 1 Ventspils to Wilhelmshaven 24 Jul = $2.46 Oct $/bl Freight rates: Crude 80,000t 3 $/bl Freight rates: Fuel oil 30,000t $/bl Freight rates: Crude 100,000t 4 1 Jul 13 Jul Freight rates: Fuel oil 30,000t 3 Freight rates: Fuel oil 30,000t 2 2 $/bl Freight rates: Fuel oil 30,000t $/bl Oct Jan 14 Apr Jul 1 Jul 13 Oct Jan 14 Apr Jul 0 Jul 13 © 2014 Argus Media Ltd www.argusmedia.com Oct Jan 14 Apr Jul Page 37