Russiaʼs oil transportation monopoly “Transneft” has warned producers that they may have to cut production after Ukrainian drone attacks on critical export ports and refineries.
This was reported to Reuters by three industry sources.
According to Ukrainian military and Russian industry sources, Ukrainian drones attacked at least 10 oil refineries, reducing Russia’s refining capacity by almost a fifth, and damaged the main Baltic ports of Ust-Luga and Primorsk. Russian authorities have not publicly commented on the extent of the damage or its impact on production and exports.
However, “Transneft”, which transports more than 80% of all oil produced in Russia, has in recent days restricted the ability of oil companies to store oil in its pipeline system, two sources close to Russian oil companies said.
“Transneft” also warned producers that it could accept fewer oil volumes if its infrastructure suffers further damage, two sources said. The attacks could force Russia, which supplies 9% of the worldʼs oil, to eventually cut production.
- Ukraine has been actively attacking Russian energy facilities in recent months. Reuters reported on August 25 that Ukrainian attacks on 10 Russian oil refineries had knocked out at least 17% of Russian oil refining capacity, equivalent to 1.1 million barrels per day.
- Commander of the UAV Forces Robert "Madyar" Brovdi wrote on August 28 that Russiaʼs oil refining capacity had decreased by 21% in two weeks.
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