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Russian Oil Refining Holds Despite Drone Attacks

OIL

Russia’s oil-processing rates remained relatively resilient in the latest week, according to Bloomberg.

  • The impact of attacks on refinery operations from drone attacks were yet to fully materialise in the processing figures, Bloomberg added.
  • Russia processed 5.49m b/d in the seven days to Jan. 24, around 56k b/d below the December average.
  • Two major export focused refineries – Novatek PJSC’s processing in Ust-Luga and the Tuapse refinery – were attacked by drones, halting operations. These refineries account for 5% of daily processing.
  • The Ust-Luga refinery was attacked Jan. 21. Its crude-processing rates halved to 64k b/d in the week to Jan. 24
  • The Tuapse refinery was attacked Jan. 25, after the data was collected.

Source: Bloomberg

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