In Europe, the fear of further slowdown of the Russian economy. Already, because of the decline in domestic demand imports of Russian diesel fuel in the EU increased substantially, which threatens the closure of local refineries.
European refineries are already under great pressure because of the deep economic recession experienced by Europe. Demand for their products is constantly decreasing, prices fall along with revenues.
"When the import of diesel grows too strongly, the income refiners are under pressure"
Since 2008, the region of 16 oil companies have reduced capacity or announced plans to cut. This is the result of contagion in Europe. Now European refineries have to fight even with the increased supply of diesel from Russia.
Exports of diesel fuel from Russia to northern Europe on the Baltic Sea has increased to 500 thousand barrels per day versus 300 thousand barrels a year ago, reportsreferring to the consulting firm ESAI Energy LLC. The Federal Customs Service of Russia the following figures. In the first three months of this year, the supply of petroleum products to foreign countries amounted to 29,483,000 tonnes at 14.659 billion dollars. Compared to the same period last year, exports of gasoline increased by 14.2% to 476.4 thousand tons, exports of diesel fuel — by 5.9% to 9.266 million tons.