Ukraine's drone strikes on refineries cause nearly 10% drop in oil exports from Russia

In January, Russia lost 1 million tons of oil product exports after Ukraine's strikes on its largest refineries, amounting to almost 10% of the total

The Moscow Times reported the information.

Ukrainian drone attacks, which have targeted Russia's oil and gas infrastructure at least nine times since the beginning of the year, have hit the exports of major oil companies.

In January, oil companies sold 10.8 million tons of oil products abroad through seaports, Reuters reports, citing industry sources and its own calculations. In annual terms, exports shrank by 1 million tons, or 9%, after large refineries were completely or partially shut down due to Ukrainian attacks.

• In early December, the Center for Research on Energy and Clean Air (CREA) reported that Russia lost EUR 34 billion in export revenues after Western countries imposed a price ceiling on Russian oil and a ban on its imports by sea to the EU came into effect. This is comparable to the Russian budget's planned security spending for 2024.
• According to the Russian Central Bank, the revenue of the largest oil and gas companies in Russia fell by 41% in January-September 2023.
• On December 14, the International Energy Agency's monthly review stated that Russia's oil export revenues fell by 17% over the month.
• The latest fire at a refinery in Russia occurred on the night of February 15. A plant in the Kursk region burned down.