An oil depot in the Volgograd region of Russia is burning following a drone attack by the Ukrainian army.
The fire at the substation has been dealt with and firefighters are currently working on putting out the fire at the oil depot.
The Ukrainian forces took to targeting Russian oil infrastructure several months ago, taking a number of them temporarily online.
As a result, in April Russia’s oil and fuel exports dropped to the lowest in five months, the International Energy Agency said at the time.
Yet, Russia’s oil and gas revenues hit $13.5 billion, equal to some 1.23 trillion Russian rubles, in April, Russian finance ministry data showed at the time.
An oil depot in the Volgograd region of Russia is burning following a drone attack by the Ukrainian army.
The drones were destroyed by local air defense systems but the debris from the unmanned aerial vehicles set the oil depot on fire along with a substation in the area, Russian media report. The fire at the substation has been dealt with and firefighters are currently working on putting out the fire at the oil depot.
Per official statements by the Russian authorities, the air defense system destroyed 38 drones including 21 over the region of Rostov, in southern Russia, and seven over the region of Kursk, in western Russia. Both Rostov and Kursk are along the Russian-Ukrainian border.
The attack comes in response to one of the most intensive Russian missile attacks on the Ukrainian capital yet, which took place on Monday, hitting the city’s largest children’s hospital.
The Ukrainian forces took to targeting Russian oil infrastructure several months ago, taking a number of them temporarily online. This has prompted a reduction in fuel production during the second quarter of the year as refiners rushed to repair their damaged facilities.
As a result, in April Russia’s oil and fuel exports dropped to the lowest in five months, the International Energy Agency said at the time. Russia exported a total of 7.3 million barrels per day (bpd) of crude oil and petroleum products in April, the IEA’s monthly report showed. The shipments in April were 6.4% lower compared to the previous month, according to the IEA’s estimates.
Yet, Russia’s oil and gas revenues hit $13.5 billion, equal to some 1.23 trillion Russian rubles, in April, Russian finance ministry data showed at the time. The Kremlin received nearly double the oil income for the Russian budget that it did in the same month of 2023, per Bloomberg estimates from April.
By Charles Kennedy for Oilprice.com
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