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14% of Russia's oil refining capacity was disrupted

June 3, 2024

A fire broke out at an oil refinery owned by the major Russian oil company Lukoil near the city of Ukhta in the Komi Republic, a region located in northwestern Russia.

News agencies quoted the regional government as saying that a fire broke out in one of the tanks at the refinery, which is located four kilometers from Ukhta.

Ukrainian drone strikes on Russian energy infrastructure knocked out about 14% of the country's oil refining capacity in 2024, in addition to raising domestic fuel prices, but despite this, they had a minimal impact on electricity production, the intelligence agency said in a report. American Pentagon.

The loss of some Russian refining capacity resulted in domestic prices rising by 20% to 30% by mid-March, in addition to halting exports to focus on meeting domestic demand.