RusEnergy

02 May 2007 - Upstream OnLine - Russian oil exports jumped by more than 6% in April to their second highest level ever despite a decline in output, as higher oil prices and refinery maintenance prompted producers to send more crude abroad. Energy Ministry data released today showed that oil exports via pipeline monopoly Transneft rose by 280,000 barrels per day from March to 4.69 million bpd, just short of the previous record of 4.76 million bpd set in May last year. "There could be another jump in May this year as people will try to evacuate more crude before export duties jump from June making exports less profitable," a trader with a Russian company told Reuters. Russia revises oil export duties every two months after tracking global prices and will increase crude export duties to over $200 per tonne from the current $156.4 per tonne. One tonne of oil is about 54 barrels. Transneft has already set a bigger oil export schedule for May with shipments expected to rise by at least 80,000 bpd. The jump in April exports came amid reduced domestic refinery runs with Lukoil's Volgograd having half of its capacity slashed by a fire in March and Surgut's Kirishi putting one of its primary distillation units on an upgrade. April production declined by 50,000 bpd or 0.6% to 9.82 million bpd from the previous all-time high of 9.87 million bpd in March.