Russia Operating At 60% Of Oil Export Capacity As Ukrainian Attacks On Energy Infra Shut Key Facilities
· Free Press Journal
While India is looking at Russian crude to meet its energy needs amid the supply shock from the Gulf due to the United States-Israel-Iran war in the region, Vladimir Putin’s country is 40 percent short of its actual oil export capacity.
Due to Ukrainian attacks on Russia’s oil and fuel export infrastructure, the country has shut down almost 40 percent of its export capacity, according to a report by Reuters. That is, Russia is operating at just 60 percent of its actual oil export capacity.
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The shutdown is the most significant oil supply disruption in the modern history of Russia, according to the report. Russia is the world’s second-largest oil exporter. The disruption may have larger implications as countries like India are resorting to Russian oil as supplies from the Gulf dry up.
'Look Forward To Welcoming PM Modi In 2026': Sergey Lavrov Hails 'Time-Tested' India-Russia TiesDue to Ukrainian attacks on Russia’s energy infrastructure, three major oil export ports, including Novorossiysk on the Black Sea and Primorsk and Ust-Luga on the Baltic Sea, have shut down.
The Novorossiysk oil terminal handles up to 700,000 barrels per day of crude, but it is operating below capacity following the Ukrainian attacks earlier this month.
In addition, frequent seizures of Russia-related tankers in Europe have disrupted 300,000 barrels per day of Arctic oil exports flowing from the port of Murmansk, traders said.
According to Reuters calculations, about 40 percent of Russia’s crude oil export capacity, amounting to around 2 million barrels per day, was shut as of Wednesday after the most recent attack.
US Waiver Unlocks 20 Million Barrels Of Stranded Russian Oil, Aims To Cool Prices Above $100 Amid Iran WarThis includes Primorsk and Ust-Luga, as well as the Druzhba pipeline, which runs through Ukraine to Hungary and Slovakia.
Russia’s pipeline pumping stations and refineries have also come under Ukrainian attacks. These strikes are aimed at weakening Russia’s military capabilities by targeting its oil and gas revenues, which account for about 25 percent of Moscow’s state budget proceeds.
Amid rising energy prices, the United States has granted a 30-day moratorium for Russian crude stranded at sea.