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Russian Fuel Terminal Resumes Exports After Ukrainian Drone Attack

An oil products export terminal at Russia’s biggest port on the Black Sea, Novorossiysk, has resumed loadings of tankers for exports following a Ukrainian drone attack at the facility last week, Reuters reported on Monday, citing data from LSEG and industry sources.

The terminal, Importpischeprom, suspended operations on Friday following a drone attack on Novorossiysk, which hit the terminal and the Sheskharis oil harbor.   

The Importpischeprom facility – whose key exports are oil products, fertilizers, and vegetable oils – has resumed loadings, with one tanker already loaded with diesel and already en route to Senegal. Two other tankers are currently being loaded at the terminal, according to LSEG data compiled by Reuters.  

Russian fuel exports have slumped in recent weeks, due to reduced refinery capacity.

Russia’s fuel shipments dipped by 14.6% in April compared to March, as refinery repairs, seasonal maintenance, and a gasoline export ban weighed on Moscow’s petroleum product exports last month, according to Reuters calculations and data Reuters obtained from industry sources.

Russia has had higher-than-expected maintenance and repairs at its refiners in recent months after Ukraine stepped up early this year its drone attacks on the Russian refining capacity. In addition to unplanned repairs to fix damages from the drones, some refineries underwent planned maintenance, which also dragged down Russia’s fuel exports in April.

As of mid-April, Russia had brought back online some oil refining units, reducing the capacity taken offline by Ukrainian drone hits to around 10%, from 14% at the end of March.

Russia said in early April it could repair all damaged units by the beginning of June. 

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However, just as Russia had started to bring back some refinery capacity damaged by Ukrainian drone attacks earlier this year, a new wave of drone attacks hit a major refinery owned by Rosneft, for a second time, in early May.

By Tsvetana Paraskova for Oilprice.com

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