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Russia's Refinery Rates Fall After Ukraine Drone Attacks

REFINING

Oil processing rates in Russia’s refineries fell by over 151kb/d to the lowest in four months at 5.26mb/d according to Bloomberg sources.

  • Rates have fallen over 286kb/d compared with most of December after Ukraine drone attacks on Russia’s downstream facilities. Ukrainian attacks have damaged five refineries since the start of this year.
  • The drop in February follows a drone attack on Lukoil PJSC’s plant in Volgograd on Feb 3. Novatek PJSC’s condensate processing plant on the Baltic coast and Rosneft PJSC’s Tuapse refinery near the Black Sea were damaged by drone attacks in late Jan.
  • Russia’s oil processing could decline even further after the most recent drone strike on the Ilsky facility on Friday.
  • Russia’s daily diesel output fell 5.2% in early Feb compared to the average for the most of Dec while gasoline production declined 2.5%.



Source: Bloomberg

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