BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/09
Because demand for domestic petroleum products is likely to rise only slightly in the best case, an increasing share of petroleum products will go to export. In 2013 and 2014, exports of petroleum products grew about 10 % a year. Currently, over half of exported oil products consist of heavy fuel oil, which requires little refining, but Russia’s most modern refineries are changing the situation.
In particular, exports of diesel fuels to EU countries increased sharply last year.