Rotterdam Fuel Oil Inflows From Russia Remain Stable: Port Authority
Fuel oil imports from Russia have historically taken a significant share of oil products throughput at Rotterdam. File Image / Pixabay
Shipments of fuel oil from Russia to Rotterdam have remained roughly stable this year despite the war in Ukraine, according to the port authority.
The level of fuel oil inflows to Rotterdam from Russia in the first five months of 2022 was roughly stable compared with the same period of 2021, Ronald Backers, head of liquid bulk business intelligence at the Port of Rotterdam, said at the World Fuel Oil Summit in Barcelona on Friday.
Historically the share of Russian product in total fuel oil inflows to Rotterdam has been stable at about 60%, Backers said.
But the war in Ukraine is likely to bring about a cut in Russian product coming to Northwest Europe eventually, he added. The European Union is in the process of banning the import of Russian crude oil and refined products.
"It has not had an impact yet, but I'm sure it will in the next couple of years," Backers said.