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Russia remains one of Swedens major oil suppliers, agency says

February 11, 2020/ 08:19

Stockholm. Sweden continues to import large volumes of Russian crude oil, according to the latest data from the country’s Energy Ministry, last year Russian crude accounted for almost a third of the country's total oil imports - 27%, the TT agency reported on Monday.

In recent years, supplies of Russian hydrocarbons to Sweden have declined: in 2011 they amounted to 51% of the total volume. However, Russia remains one of the kingdom’s main oil suppliers. Other important players in the Swedish market are Norway (41%) and Nigeria (12%), told TASS.

Despite the political rhetoric and statements of environmental organizations pointing to the political and environmental aspects related to the purchase of Russian oil and its production, Swedish companies continue to import large volumes of it. The largest fuel-producing company Preem buys an average of 400,000 barrels of Russian crude oil on a trading day. According to preliminary data for 2019, it makes up 41% of total purchases. "We know that oil from the North Sea is more sustainable. The Russian level of risk is higher, but generally acceptable, and we follow the recommendations of the Foreign Ministry," Malin Hallin, head of the sustainability department at Preem told the TT agency.

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