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Russian refineries cut oil refining due to losses – Reuters

Image: TASS (illustration)

Ukrainian special services continue to attack Russian oil refineries, oil depots and other facilities on the territory of the Russian Federation that support the occupation forces.

At least three Russian oil refineries have stopped processing or cut production due to heavy losses amid export curbs, rising oil prices and high borrowing costs. Reuters reported this on Friday, November 15, citing sources.

We are talking about Tuapse, Ilsky and Novoshakhtinsky plants.

“The closing of oil refineries indicates the problems of the Russian oil refining industry, which has found itself under attack by Ukrainian drones and Western sanctions, so oil refiners are forced to sell fuel at a discount a reduction in revenues to the state budget,” the agency pointed out.

Russia’s least technologically advanced oil refineries, which do not produce premium fuels, suffered the most. They experienced losses of up to $102 per metric ton for a few months in the second half of 2024.

It is known that the Russian Federation has 30 large and medium-sized oil refineries, as well as several small ones.

Slovakia intends to negotiate with the European Union on extending the validity of exemptions from sanctions against Russian oil.

Drones attacked an oil storage facility in Penza, Russia on November 13, damaging a tank there.

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Source: korrespondent

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