Russian Baltic Oil Exports to Surge in New Year

Exports of Russian crude oil blend Urals will rise sharply in January from the Baltic Sea ports on the back of a government decision to cut export duties, a preliminary export schedule showed on Tuesday.

Russia will raise crude oil exports from Primorsk to 3.6 million tonnes in January from 2 million tonnes in December.

The neighbouring port of Ust-Luga will increase Urals exports to 2.2 million tonnes next month from 1.672 million tonnes scheduled for loading in December.

A full January export schedule for the Black Sea port of Novorossiisk has yet to be released. (Reporting by Gleb Gorodyankin