Advertisements

Russian Oil Refining Declines by 14.5%

by Krystal

This month, Russia’s oil refining capacity has significantly decreased, with 14.5% of its total processing capacity currently offline, according to Reuters’ calculations. This increase from August is attributed to both Ukrainian drone attacks and a combination of planned and unplanned technical issues.

Data from industry sources indicate that the portion of Russia’s refining capacity that is offline has surged by 34% in September. With more facilities out of commission, Russia may increase crude oil exports, as the country has limited storage capacity for crude oil in tanks.

Advertisements

Market sources informed Reuters that the loading plans for oil export terminals at Russia’s Baltic ports have been slightly increased for September. Seasonal maintenance, along with drone attacks on Russian oil and energy infrastructure, have contributed to the idle refining units.

Advertisements

Energy infrastructure has been a primary target in the ongoing conflict, with Ukrainian drone attacks on Russian refineries becoming a regular occurrence this year. These attacks have impacted the supply of products from Russian refineries.

Advertisements

Russia has experienced more maintenance and repairs than anticipated at its refineries following an increase in drone attacks by Ukraine earlier this year. Unplanned repairs to address drone damage, along with scheduled maintenance, have reduced Russia’s fuel output and exports.

Advertisements

In mid-August, the Russian government announced an extension of its gasoline export ban until the end of December 2024. This measure aims to maintain stable domestic supply during seasonal demand peaks and planned refinery repairs.

Advertisements
Advertisements

You may also like

oftrb logo

Oftrb.com is a comprehensive energy portal, the main columns include crude oil prices, energy categories, EIA, OPEC, crude oil news, basic knowledge of crude oil, etc.

【Contact us: [email protected]

© 2023 Copyright oftrb.com – Crude Oil Market Quotes, Price Chart live & News [[email protected]]