EMEA News
Rosneft Saw 15.4% Drop in Bunker Sales in First Quarter
Friday May 14, 2021
Russian energy producer Rosneft saw its bunker sales continue to drop in the first quarter of 2021.
The company sold a total of 330,000 mt of marine fuels to end-users in the first quarter, down by 15.4% from the 390,000 mt it sold in the same period a year earlier and by 32.7% from the 490,000 mt it sold in the fourth quarter of 2020.
The decline follows a sharp drop last year, with 2020's total sales down by 32% from the previous year at 1.9 million mt.
Russian bunker demand took heavy blows last year both from the IMO 2020 transition, which took away most of the market for its cheap HSFO output, and the COVID-19 pandemic.
