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(Bloomberg) — Ukraine said it made a successful drone strike at Lukoil PJSC’s Volgograd refinery in Russia, adding to the pressure on the country’s oil industry.
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The overnight attack on the facility in the Volga region caused explosions and a fire in the target area, Ukraine’s General Staff said in a statement on Telegram on Thursday. Bloomberg News couldn’t independently verify the claim and Lukoil didn’t immediately respond to an emailed request for a comment.
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The Volgograd refinery, which has already been attacked at least six times so far this year, has a design capacity to process about 300,000 barrels a day of crude. It supplies oil products mainly to southern regions of Russia, with some volumes also shipped for export.
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Ukraine has intensified strikes on Russian oil infrastructure — from refineries to crude pipelines and sea terminals — in recent months in an effort to reduce the energy revenue that helps Moscow finance its military aggression. Since the beginning of August, Ukrainian drones targeted Russian oil-processing facilities at least 38 times, compared with 21 strikes between January and July, according to public statements and data gathered by Bloomberg.
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US President Donald Trump is also applying pressure to Russia’s energy industry by blacklisting major oil producers Rosneft PJSC and Lukoil last month. The move followed a failed attempt to bring his Russian counterpart Vladimir Putin to the negotiating table.
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In response to the sanctions that are set to come into effect later in November, key buyers of Russian crude in China, India and Turkey have paused purchases and are seeking alternative supplies. As a result, the average of Russia’s crude exports for the four weeks ending Nov.2 slumped by most since January 2024.
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