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Typical crude export route costs

Figure 131 shows sample netback calculations for a variety of export routes.

Figure 131: Typical export route costs for Russian crude, $/bl

				Primorsk	Ust-Luga
			Urals cif	60.90	60.90
			Freight	0.91	0.91
			Insurance	0.02	0.02
			Demurrage and navigation dues	0.14	0.14
			Urals fob/daf	59.83	59.83
	-19		Port loading	0.32	0.38
			Export duty	15.38	15.33
	Jun
			Tariff from West Siberia	4.73	4.59
			Tariff from Volga-Urals	—	2.33
			Tariff from Timan Pechora	—	—
			Netback – West Siberia	39.40	39.53
			Netback – Volga-Urals	—	41.79
			Netback – Timan Pechora	—	—
			Urals cif	55.85	55.85
			Freight	1.83	1.83
			Insurance	0.02	0.02
			Demurrage and navigation dues	0.16	0.16
			Urals fob/daf	53.84	53.84
	-18		Port loading	0.31	0.36
			Export duty	18.80	18.75
	Dec
			Tariff from West Siberia	4.44	4.31
			Tariff from Volga-Urals	—	2.18
			Tariff from Timan Pechora	—	—
			Netback – West Siberia	30.29	30.42
			Netback – Volga-Urals	—	32.55
			Netback – Timan Pechora	—	—
			Urals cif	74.44	74.44
			Freight	0.91	0.92
			Insurance	0.02	0.02
			Demurrage and navigation dues	0.13	0.13
			Urals fob/daf	73.38	73.37
	-18		Port loading	0.31	0.36
			Export duty	18.33	18.31
	Jun
			Tariff from West Siberia	4.71	4.58
			Tariff from Volga-Urals	—	2.32
			Tariff from Timan Pechora	—	—
			Netback – West Siberia	50.03	50.12
			Netback – Volga-Urals	—	52.38
			Netback – Timan Pechora	—	—
			Urals cif	63.91	63.91
			Freight	0.68	0.68
			Insurance	0.02	0.02
			Demurrage and navigation dues	0.16	0.16
			Urals fob/daf	63.05	63.05
	-17		Port loading	0.31	0.36
			Export duty	14.58	14.57
	Dec
			Tariff from West Siberia	4.85	4.72
			Tariff from Volga-Urals	—	2.39
			Tariff from Timan Pechora	4.15	—
			Netback – West Siberia	43.31	43.40
			Netback – Volga-Urals	—	45.73
			Netback – Timan Pechora	44.01	—

Note: Rosneft, LUKOIL, Surgutneftegas, Gazprom neft and Slavneft principally produce in West Siberia.

Volga-Urals is the base for Tatneft and Bashneft. LUKOIL-Perm (LUKOIL), Samaraneftegaz and Orenburgneft (Rosneft) are based there, too. LUKOIL dominates Timan Pechora.

Renaissance Capital

20 June 2019

Russian oil & gas

Novorossiysk	Novorossiysk
(Urals)	(Siberian Light)
60.80	62.90
0.98	0.95
0.02	0.02
0.00	0.00
59.80	61.93
0.45	0.43
15.40	14.97
4.54	4.11
2.33	—
—	—
39.41	42.42
41.72	—
—	—

56.00	56.95
2.00	1.94
0.02	0.02
1.54	1.49
52.44	53.50
0.45	0.43
18.84	18.28
4.26	3.85
2.09	—
—	—
28.89	30.94
31.06	—
—	—

75.19	75.99
0.78	0.76
0.02	0.02
0.00	0.00
74.39	75.21
0.45	0.43
18.39	17.90
4.53	4.11
2.22	—
—	—
51.02	52.77
53.33	—
—	—

63.96	64.86
1.04	1.01
0.02	0.02
0.39	0.38
62.51	63.45
0.44	0.43
14.58	14.25
4.65	4.22
2.28	—
—	—
42.84	44.55
45.21	—
—	—

Source: Argus FSU Energy

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