Urals diffs unchanged, exports from Novorossiisk set to rise in Feb m/m

Urals crude differentials to dated Brent were stable on Friday, while oil loadings from Black Sea's Novorossiisk port were set to rise in February compared to January, traders said.

• Urals, KEBCO and Siberian Light loadings from Russia's Black Sea port of Novorossiisk in February were set at 2.38 million tonnes, above 2.18 million tonnes in the January plan.

• On a daily basis February oil loadings from the port will rise 21% from January, Reuters calculations showed.

• Russia's monthly budget revenues from oil and gas fell in January to their lowest level since August 2020 under the impact of Western sanctions on its most lucrative export, Finance Ministry data showed on Friday.

  PLATTS WINDOW

• No bids or offers were made for Urals, Azeri BTC or CPC Blend in the Platts window on Friday, traders said.

NEWS

• Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars, four sources with knowledge of the matter said.