Operations at damaged Russian fuel complex seen resuming within weeks, say analysts hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Operations at damaged Russian fuel complex seen resuming within weeks, say analysts investing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investing.com Daily Mail and Mail on Sunday newspapers.
MOSCOW/NEW DELHI (Reuters) -Russian energy company Novatek is likely to resume large-scale operations at its Ust-Luga processing complex and Baltic Sea terminal within weeks, following a suspected drone attack seen disrupting naphtha flows to Asia, analysts said on Monday. The tightening of supply from Russia, following fears of disruption in European naphtha exports to Asia from Yemeni Houthis' attacks on ships in the Red Sea, are driving up naphtha prices and refining margins in Asia. The profit margin for making naphtha in Asia jumped by about $6 to $91.70 per metric ton over Brent crude on Monday after four straight sessions of losses.
Novatek said on Sunday it had been forced to suspend some operations at the huge Baltic Sea fuel export terminal and "technological process" at the complex due to the fire.