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OIL: Ust-Luga Flows Appear Paused After Recent Drone Attacks

OIL
CEEMEAEnergy BulletsRussiaBulletCommodities

Oil flows from Russia’s Baltic Sea port of Ust-Luga appear to be paused following recent drone attacks by Ukraine and potential damage to the pipeline system feeding the port, Bloomberg said.

  • A prolonged halt of oil shipments from the port could add to tight global market concerns.
  • Ukrainian drones struck Russia’s Andreapol pumping station on the Baltic Pipeline System-2, which feeds Ust-Luga, according to a Ukrainian security official.
  • Ust-Luga flows dropped to zero on Jan. 29, a Bloomberg source said.
  • Shipping data shows a gap in loadings following a tanker departure on Jan. 29, although could be due to scheduling Barrels in storage could still be available to load.
  • Scheduled oil loadings from the Ust-Luga terminal in January are expected at around 350kb/d, down from a maximum capacity of 700kb/d, traders told Reuters earlier this week.
  • The port exported about 650kb/d in 2024, or as much as 20% of Russia’s seaborne exports.
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Oil flows from Russia’s Baltic Sea port of Ust-Luga appear to be paused following recent drone attacks by Ukraine and potential damage to the pipeline system feeding the port, Bloomberg said.

  • A prolonged halt of oil shipments from the port could add to tight global market concerns.
  • Ukrainian drones struck Russia’s Andreapol pumping station on the Baltic Pipeline System-2, which feeds Ust-Luga, according to a Ukrainian security official.
  • Ust-Luga flows dropped to zero on Jan. 29, a Bloomberg source said.
  • Shipping data shows a gap in loadings following a tanker departure on Jan. 29, although could be due to scheduling Barrels in storage could still be available to load.
  • Scheduled oil loadings from the Ust-Luga terminal in January are expected at around 350kb/d, down from a maximum capacity of 700kb/d, traders told Reuters earlier this week.
  • The port exported about 650kb/d in 2024, or as much as 20% of Russia’s seaborne exports.