Transport Infrastructure
The drone attacks and other headwinds will affect Russia's seaborne oil products exports in 2024
Industry data shows that Russia's seaborne exports of oil products fell by 9.1% last year to 113.7 millions metric tons as the country's refineries were hit with a number of challenges, including Ukrainian drone attacks and an export ban. They also faced falling prices, higher input costs, and a drop in oil prices. Ukraine targeted several Russian fuel and refinery facilities including Lukoil’s Volgograd refinery and Gazprom’s Omsk oil refining facility in western Siberia. Also, Slavyansk, Novoshakhtinsk, and Rosneft’s Black Sea oil refinedry in Tuapse were targeted. Market sources reported that Russian refineries were also under financial pressure due to...