The two major oil ports of the Baltic Sea paralyzed: Russia's petroleum export capacity has been crippled by nearly 40%
After Ukrainian drone attacks on March 24–25, the Novatek terminal within the Ust-Luga port was completely paralyzed, with all facilities destroyed; at least three storage tanks owned by Ust-Luga Oil Company were hit, and fires are still ongoing. The attack also affected two oil tankers currently loading cargo.
This means that Russia’s key energy export hub in the Baltic Sea is effectively shut down.
The Novatek facilities responsible for refining crude oil into naphtha and kerosene—under sanctions, repairs to such specialized equipment may take several months.
Damage to the Ust-Luga oil terminal has interrupted diesel and heavy fuel oil exports. Meanwhile, the largest oil port in the Baltic Sea, Primorsk, has also ceased oil loading operations (over 1 million barrels per day, annual throughput around 50 million tons).
Combined, Primorsk and Ust-Luga (each handling approximately 700,000 barrels daily), Russia’s petroleum export capacity has been crippled by nearly 40%.
It is expected that exports via the Baltic route will largely come to a halt, severely impacting Russia’s foreign exchange earnings, while remaining export routes (Novorossiysk and Kozhimino) will face serious congestion.
Original source: toutiao.com/article/1860680010145804/
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