Novak: Russia will redirect 140 million tons of oil exports from Europe to Asia in 2023

Russia this year will redirect to Asia 140 million tons of exports of oil and oil products, which previously accounted for the European market. Deputy Prime Minister of Russia Alexander Novak told reporters about this.

“This year, 140 million tons of oil and oil products will go [в Азию]. There will be about 80-90 million tons left in the West,” leads his words TASS.

Last year, Russia managed to redirect about 40 million tons from Europe to Asia, Novak added, total deliveries to the European market amounted to 220 million tons in 2022.

Vice Prime Minister also informedthat in April Russia reached a declared voluntary cut in oil production of 500,000 barrels per day. In total, by the end of 2023, oil and gas condensate production will be reduced by 20 million tons and amount to 515 million tons, he stressed.

Yesterday, April 26, Novak at the Knowledge forum declared on the reduction of gas supplies to the European Union by a third, part of these volumes was transferred to China – deliveries through the Power of Siberia increased by 50% last year.

According to Chinese customs, according to the results of 2022, Russia took second place in terms of oil supplies to China, losing first place to Saudi Arabia. Last year, Russia supplied China with 86.25 million tons of oil, or 1.72 million barrels per day, which is 8.3% more than in 2021. Russia also increased LNG exports by 43.9% to 6.5 million tons At the end of March, Novak also said that Russian oil exports to India in 2022 increased 22 times compared to 2021.