Novorossiysk oil exports 10 days behind schedule in March

Exports and transit of oil at the Black Sea port of Novorossiysk are running up to 10 days behind schedule amid persistent storms and drone attacks, one of which forced a suspension of loadings early this month, according to three sources and Reuters estimates.

"Every time a danger alert is announced, tankers are unmoored from the berths and sent out to sea," a Reuters source in trade said.

According to LSEG data, industry sources, and Reuters estimates, shipments of Urals and KEBCO crude from Novorossiysk in the first 10 days of March averaged about 200,000 barrels per day (bpd), about half of which were carryover volumes from February.