Oil prices near one-week high amid Russia supply disruptions, sanctions uncertainty
Oil prices remained near a one-week high on Feb. 19 as concerns over supply disruptions in Russia and the U.S. continued to drive the market.
Russian oil industry
Russia offering US deal on natural resources, access to Arctic
Moscow suggested that American oil companies may return to the country, Russian negotiator Kirill Dmitriev said before the talks started in Riyadh.
Reported drone strike against Russian oil refinery in Samara Oblast causes fire
Residents posted videos on social media purportedly showing a large blaze at the refinery. Sounds of explosions were reported at around 2:45 a.m. local time.
Ukraine strikes Ilsky Oil Refinery in Russia's Krasnodar Krai, SBU source says
Residents earlier posted videos on social media purportedly showing explosions at the refinery in the Seversky district of Krasnodar Krai.
Drones hit apartment building, target oil refinery in Volgograd, Russian media says
Local residents reported hearing over 15 explosions as drones targeted an oil refinery in the Krasnoarmeysky district of the city.
Ukraine war latest: 'We'll swap one territory for another' — Zelensky on trade territory in potential peace talks with Russia
Key developments on Feb. 11: * Ukraine could trade territory in potential peace talks with Russia, Zelensky says * Ukraine strikes Russia's Saratov oil refinery, military confirms * US won't send troops to Ukraine, Pentagon chief says * North Korea has sent 200 long-range artillery guns to Russia, Seoul says * Ukrainian drones destroy Russian
Chinese refiners offered discounted Russian oil as US sanctions deter buyers, Bloomberg reports
Chinese refiners are being offered Russian ESPO crude at discounted prices as rising concerns over U.S. sanctions create logistical and administrative challenges, deterring buyers, Bloomberg reported on Feb. 11.
Ukraine strikes Russia's Saratov oil refinery, military confirms
"The refinery mainly produces gasoline, fuel oil, and diesel fuel. In total, more than 20 types of oil products (are being produced there)," the General Staff said.
Drone strike reportedly targets Russia's key Saratov oil refinery
"The Saratov Oil Refinery is one of the key facilities in Russia's fuel infrastructure. Its refining capacity reaches 7 million tons of oil annually," Andrii Kovalenko, head of Ukraine's Center for Countering Disinformation, said.
Ukraine war latest: Russia massing troops for new assaults in Chasiv Yar; Ukraine strikes oil refinery in Krasnodar Krai
Key developments on Feb. 10: * Russia massing troops for new assaults in Chasiv Yar, military warns * Drones reportedly target key Russian oil refinery in Krasnodar Krai * Trump claims 'progress' on ending Russia-Ukraine war, confirms contact with Putin * Ukraine approves high-speed Baton drones for battlefield deployment * Ukraine to receive Patria 6x6
Ukraine's drone strike reportedly sets fire to Russian oil depot in Krasnodar Krai
The fire at the Albashneft oil depot was extinguished at 8:11 am Moscow time, the independent Telegram channel Astra reported, publishing a video of what appears to be a burning oil tank.
Ukraine's drones reportedly strike Russian energy facilities in Astrakhan, Volgograd oblasts
Ukrainian drones attacked energy facilities in Russia's Astrakhan and Volgograd oblasts overnight on Feb. 3, causing a fire, according to local authorities.
Ukrainian drones strike 'one of 10 largest oil refineries in Russia,' military says
"This refinery is one of the 10 largest oil refineries in Russia in terms of design capacity and is involved in supplying the Russian occupatying army," the General Staff said in a statement.
Ukrainian drones set fire to Russian oil refinery in Volgograd Oblast, authorities say
The wreckage of a downed drone fell on the refinery, causing a fire that was quickly extinguished, Governor Andrey Bocharov said.
Oil shipments on pause at Russia's Ust-Luga port after drone strike, Bloomberg reports
A drop in shipping activity at the Baltic Sea port appears to back up the SBU's claims that Ukrainian drones struck the Andreapol oil pumping station, shutting down the main pipeline that feeds Ust-Luga.
'4 out of 4' — Russian Lukoil oil refinery struck by multiple Ukrainian drones, military intelligence source claims
According to a military intelligence source, the Lukoil oil depot in the city of Kstovo was targeted by four drones, all of which struck their target and caused "significant damage."
Russian oil sales to China and India stall as sanctions increase costs, Reuters reports
The disruption has led to stalled trade in Russian crude loaded for March delivery as rising shipping costs created a significant price gap between buyers and sellers, according to Reuters.
Russia's Ryazan oil refinery suspends operations after drone strike, Reuters reports
"The railway loading equipment has been damaged. There have been no railways loadings, they stopped oil processing," an industry source said.
Ukraine war latest: 'More than 50 explosions’ — Massive drone strike targets Russian refinery, plants
Key developments on Jan. 24: * 'More than 50 explosions’ — Massive drone strike targets Russian refinery, plants * Russian army failing to outflank Pokrovsk, Ukraine's military says * Media investigation identifies over 90,000 Russian soldiers killed in Ukraine * 'Utter bulls***' — Ukraine rejects Russia's demand to abandon NATO membership promise * Zelensky is
UK, US sanctions force Russia's oil tankers to reflag, Bloomberg reports
The removal of these flags disrupts Russia's oil export logistics, forcing tankers to re-register in less reputable jurisdictions and change ownership to avoid detection.
China’s support for Russia falls short in replacing Western materials, media reports
China has emerged as Russia's largest supplier of goods, but Chinese imports have failed to fully replace Western equipment and raw materials lost due to sanctions, The Moscow Times reported on Jan. 20, citing data from the Gaidar Institute.
China imports record amount of Russian crude oil in 2024, Reuters reports
In 2024, 108.5 million metric tons were imported from Russia, including through pipelines and sea deliveries.
Fire reported at oil depot in Russia's Tula Oblast following drone attack
A fire erupted at an oil depot in the town of Uzlovaya in Russia's Tula Oblast following a Ukrainian drone attack on the facility overnight on Jan. 18, regional Governor Dmitry Milyaev said.
US imposes sanctions against Russian oil tankers under construction for 1st time
The latest sanctions, imposed last week, targeted over 180 oil-carrying vessels of Russia's so-called shadow fleet, a group of aging tankers routinely used for sanction evasion.
Russia’s seaborne oil exports decline 9.1% in 2024 amid Ukrainian drone attacks, Reuters reports
Ukraine has targeted Russia's fossil fuel infrastructure as part of its strategy to undermine a key funding source for Russia's war effort.
EU's Nordic, Baltic members reportedly urge lowering of Russian oil price cap
The countries argue that a lower cap would further restrict Russia's ability to finance its war against Ukraine while avoiding significant disruptions to global oil markets.
Russian 'shadow fleet' tankers carrying 2 million barrels of crude idling off China’s coast, Bloomberg reports
Three sanctioned tankers carrying over 2 million barrels of Russian crude oil are floating off China's coast after they were hit by fresh U.S. sanctions last week, Bloomberg reported on Jan. 13.
Poroshenko's party urges ban on Russian oil transit via Ukraine
Ex-President Petro Poroshenko and members of his European Solidarity opposition party submitted a bill on Jan. 7 banning the transit of Russian oil and gas through Ukraine's territory during martial law.
Ukraine strikes Russian oil depot supplying fuel to Engels-2 airbase, military confirms
The operation, carried out jointly by Ukraine's military intelligence, the Unmanned Systems Forces, and other units, targeted the Kristal Plant used to supply fuel to the nearby Engels-2 airbase, the military said.
US to introduce 'big package' of sanctions on Russia’s shadow fleet, individuals, Reuters reports
The U.S.'s planned sanctions would aim at targeting tankers carrying Russian oil above the imposed price cap and individuals working in schemes to sell crude above the cap, Reuters reported.
Finnish court upholds seizure of Russian tanker suspected of cable sabotage
The Helsinki District Court has ruled to keep the oil tanker — suspected of belonging to Russia's "shadow fleet" — under seizure, despite an appeal from the ship's owner.
Kerch Strait oil spill significantly smaller than initially thought, Russia claims
The amount of oil spilled in the Kerch Strait by two Russian oil tankers is "significantly less than the initial estimate," Russia's Transport Ministry claimed on Jan. 2.
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