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Lukoil reduced oil products exports last year

About 39% of total sales of petroleum products or 26.9 mln metric tons were sold in Russia

MOSCOW, April 22. /TASS/. Lukoil contracted exports of petroleum products by 17.4% to 14.7 mln metric tons amid turnarounds at refineries and rising sales in Russia, the oil producer reported.

The sales volume of oil and gas products dropped by 8.1% in total to 69.5 mln metric tons. "Negative dynamics is associated with turnarounds at Russian refineries of the group and the sale of ISAB refinery in Italy," the company noted. About 39% of total sales of petroleum products or 26.9 mln metric tons were sold in Russia. Lukoil therefore scaled up sales in Russia by 5.7%, despite turnarounds at refineries.

"The company implemented a package of activities in the reporting year for seamless provision of the domestic market with petroleum products, including measures to increase efficiency of sales and optimize logistics. As a result, wholesale sales in Russia increased by 7% and retail sales in Russia gained 4.2%, having reached the all-time high figure," Lukoil informed. The share of petroleum products sold in the international market amounted to 61%, compared to 66% in 2023.

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