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Russia-Africa Summit

Russia starts oil exports to Africa, oil product supplies up 3-fold in 5M to 8 mln tons

It is reported that Russia increasingly builds transport, logistics and financial infrastructure regarding supplies, with positive dynamics expected to persist

ST. PETERSBURG, July 27. /TASS/. Russia has started exporting oil to Africa this year, with supplies there having reached 200,000 tons in five months, while supplies of petroleum products soared three-fold in the same period to 8 mln tons, Energy Minister Nikolay Shulginov said in an interview with TASS on the eve of the Russia-Africa summit.

Russian companies started boosting deliveries to Africa in 2022, while this year the rates have increased, the minister noted. "The issue is mainly about petroleum products. Russia supplied 200,000 tons of oil to Africa in January-May of this year, whereas in the same period last year there were no supplies. Exports of petroleum products to the continent climbed three-fold in five months to almost 8 mln tons," he said.

"As Russia increasingly builds transport, logistics and financial infrastructure regarding supplies, we expect positive dynamics to persist by the end of the year," Shulginov added.

Prime Minister Alexander Novak said earlier that Russia’s exports of oil to friendly countries totally soared by 76% in 2022, of petroleum products - by 20% in annual terms. All in all, almost 40 mln tons of oil and petroleum products were redirected from western to eastern markets last year, he said, adding that this year out of 223 mln tons of oil and oil products exported in the western direction only 87 mln tons, or 40%, were expected to remain.

The second Russia-Africa summit is scheduled to take place in the Russian city of St. Petersburg on July 27-28, with an economic and humanitarian forum to be held concurrently. This time, same as in 2019 when the first such summit was held, the motto is ‘For Peace, Security, and Development’. Roscongress Foundation is the organizer of the event. TASS is the photo hosting agency and information partner of the summit and the forum, and it also holds the second Russia-Africa media forum.

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Oil & Gas Russia-Africa Summit

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