GENERICO.ruEconomicsRussia doubled oil product exports to Africa in a year and a half

Russia doubled oil product exports to Africa in a year and a half

MOSCOW, March 21 Russia has doubled its exports of petroleum products to African countries over the past year and a half, Foreign Minister Sergei Lavrov said in an interview with documentary project “Oil”.
The Foreign Minister noted that the hydrocarbon market is expanding, Russia is not afraid of competition with other countries, including Iran.

"Within the framework of OPEC+, of which it is a member is both Iran and Russia, there is a clear understanding of how to negotiate and seek compromises. This scheme has been working for many years. No one is at a loss, no one is offended. Moreover, I think the hydrocarbon market will grow. <…> If you look at the numbers, they are two to three times higher than the rates that exist in many other countries, primarily in the West. India is growing even faster. Therefore, there will be no shortage of consumers,” Lavrov said.

He emphasized that “normal countries” based on international law will always find a mutually acceptable balance of interests.

According to Deputy Prime Minister Alexander Novak, China and India have become the main buyers of Russian oil and petroleum products, but there are still many interested countries from other countries in the world.
In July last year, Energy Minister Nikolai Shulginov said that Russia could supply to African countries 18-20 million tons of oil and petroleum products by the end of 2023.

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