Russia's September Oil Refining Capacity Soars by 34%

Russia's offline primary oil refining capacity will increase by 34% in September compared to August due to technical outages, Ukrainian drone attacks, and seasonal maintenance. The total offline capacity for the month will reach 3.87 million metric tons. Despite attacks, Russia plans to increase crude oil exports.

Russia's offline primary oil refining capacity is slated to rise by 34% in September, reaching 3.87 million metric tons, according to data obtained by Reuters from industry sources. This surge is attributed to technical outages, Ukrainian drone attacks, and seasonal maintenance.

With total offline capacity hitting 14.5% of Russia's refining capabilities, up from 2.95 million tons in August, there is an expectation of increased crude oil exports. Market insiders disclosed that Russia's crude oil loading plan from the Baltic ports of Primorsk and Ust-Luga for September has been adjusted upward by 0.2 million tons to 6.2 million tons.

In a recent attack, a Russian oil refinery in Moscow, managed by Gazprom Neft, was struck by a Ukrainian drone. Despite the damage, the Kremlin confirmed minimal impact due to robust air defense systems. Looking ahead, October projections indicate a 37% drop in offline refining capacity from September, down to 2.42 million tons. Cumulatively, Russia's idle primary oil capacity for January to September has soared to 32 million tons, reflecting a 23% increase from last year.

(With inputs from agencies.)