Russian oil production may have to be reduced following Ukrainian drone strikes on key oil infrastructure.

Source: Reuters, citing three industry sources

Details: One source said this scenario has become realistic after drones in recent weeks struck the Baltic ports of Ust-Luga and Primorsk, as well as several major refineries – the Kirishi refinery in Leningrad Oblast, and refineries in Ryazan and Saratov operated by Russian energy giant Rosneft.

Two industry sources told Reuters that Transneft, a company responsible for pumping over 80% of the oil extracted across Russia, “has in recent days restricted oil firms’ ability to store oil in its pipeline system” and “warned producers it may have to accept less oil if its infrastructure sustains further damage”.

Last week, Ukrainian drones damaged the Baltic port of Primorsk for the first time since the start of the war. The port’s capacity is about one million barrels per day, which accounts for over 10% of Russia’s total oil production.

Reuters previously said, citing sources, that two oil tankers, the Kusto and Cai Yun, had been damaged in the attack, and the port has only partially resumed operations.

Another Baltic port, Ust-Luga, has still not fully restored its capacity after an August drone strike on the pipeline feeding it. Industry sources told Reuters that the port is only half-loaded this month.

Background: The Kirishi refinery in Leningrad Oblast suspended oil processing at one of its units after a fire caused by a Ukrainian drone attack on 14 September.

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