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European VGO exports rise in August, imports fall

  • Märkte: Oil products
  • 07.09.26

European exports of vacuum gasoil (VGO) rose sharply in August while imports declined, with refinery maintenance cutting feedstock requirements across parts of the region.

Exports from the EU, UK and Norway reached 694,000t in August, up by 48pc from 469,000t in July, Kpler data show.

The Netherlands remained the largest European loading country in August with 273,000t shipped, followed by France with 112,000t. Sweden exported 80,000t, while Spain and Italy each loaded 77,000t. The US remained a key outlet for European cargoes, alongside destinations within northwest Europe and the Mediterranean.

Imports into the EU, UK and Norway fell to 521,000t in August from 548,000t in July and were down by 27.2pc from 716,000t a year earlier.

Lower feedstock demand is expected to weigh on the European VGO market in the coming months as several refiners prepare for maintenance. Greek firm Motor Oil Hellas' 220,000 b/d Corinth refinery is scheduled to carry out about 30 days of work on its fluid catalytic cracker (FCC) and hydrocracker between September and October, reducing its VGO processing requirements and potentially increasing feedstock availability in the Mediterranean market.

Planned maintenance on Spanish energy firm Galp's 43,000 b/d hydrocracker at its 226,000 b/d Sines refinery is also expected to curb VGO demand. Market participants said the plant is unlikely to require extra VGO purchases for its October run schedule as it builds inventories ahead of the maintenance.

Additional work at Polish oil firm Orlen's Plock refinery, including on an atmospheric distillation unit and hydrocracker, is also expected to reduce VGO demand. Spanish Repsol's Bilbao refinery restarted units in early September after an outage that affected a vacuum distillation unit and FCC. Planned work across Europe is expected to curb feedstock demand and support VGO availability through the autumn turnaround season.


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