Russia’s idle primary oil refining capacity could rise 29% in 2023

*Lukoil refinery

Moscow — Russia’s offline primary oil refining capacity for 2023 is set to increase by 29%, or 5.976 million tonnes, from the previous year to 26.55 million tonnes, according to data from industry sources and Reuters calculations.

The increase follows changes in Russian oil refineries’ maintenance schedules.

Russia expects Western sanctions and a looming oil products embargo, which takes effect on Feb. 5, to have a significant impact on its oil products exports and production.

*David Goodman – Reuters

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