Russia sees growth at oil refineries in November

Russian oil refining picked up in November, but still lags behind production from 2010, according to Reuters.

Daily volumes in the crucial Asian oil producer increased by 1.8 percent from October to reach 5.08 million barrels per day. The biggest growth was seen in fuel oil, which increased by 8.7 percent from the month before, but gasoline and gasoil both rose as well, growing 2.6 percent and 5.5. percent, respectively.

In particular, the country saw a major surge in demand from its largest oil refiner, Rosneft, which increased production by nearly 7.4 percent. One of the companies plants more than doubled its production from October.

However, this positive news was counterbalanced by the fact that production remains notable below last year, with daily volume down 0.7 percent from November 2010.

Nevertheless, Platts reports that the Russian oil refineries received some positive news with all of the country's oil infrastructure avoiding any significant damage from the 6.7-magnitude earthquake that struck East Siberia near a major oil pipeline.

Details on Russia's oil refining industry can be found at PennEnergy's Research area.



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