Recent attacks on Russian oil refineries have dealt a significant blow to the country’s refining capacity, forcing it to import fuel and seek emergency supplies from neighboring countries.
According to a new report by Oslo-based Arctic Securities cited by Splash247, approximately 20% of Russia’s refining capacity has been knocked offline, with the potential for up to 3 million more barrels per day at risk due to daring raids by Ukrainian drones.
The escalating conflict in Ukraine has seen Kyiv strategically target Russia’s oil refinery infrastructure, resulting in a series of devastating attacks. The situation worsened over the weekend as flooding took out another Russian refinery, exacerbating the fuel shortages.
Traditionally a net exporter of gasoline, Russia has been compelled to turn to Belarus and Kazakhstan for emergency fuel supplies. The Institute for the Study of War (ISW) noted that recent efforts by Russia to import gasoline from its neighbors indicate growing concerns about domestic supply shortages following Ukrainian strikes on Russian refineries.
Arctic Securities highlighted that 10 refineries have already been struck, representing approximately 20% of Russia’s total refining capacity. With an additional 3 million barrels per day at risk, the country faces a significant challenge in meeting its fuel demands.
The impact is not limited to domestic fuel shortages; it extends to Russian diesel exports, which have seen a decline due to the recent increase in cracking spreads. Tankers have been rerouted as supply needs to be sourced from alternative sources, leading to logistical challenges and a stretched fleet.
