RUSSIAN Oil Refineries Crisis as Staff Quit Jobs as Drone Attacks Increase. Russia Ukraine War
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A series of drone attacks on Russian oil refineries, launched by Ukraine, have been ongoing since March 2022. Despite initial reports of a decline in frequency, the attacks continue daily, with Ukraine achieving longer ranges and increased success. This has led to concerns over the refinery staff, with many resigning due to fear of being caught in a potential explosion. The loss of skilled technicians has exacerbated the issue, as Russia struggles to keep refineries operating at full capacity.
The ongoing attacks have resulted in a significant drop in oil output, with daily production now at around 5.6 million barrels, a 10% decrease from pre-war levels. Additionally, the revenue from the sale of refined products has declined to around €200 million per day, a 50% drop from the peak. The EU has committed to providing Ukraine with 1 million drones, potentially increasing the frequency and success of the attacks. The impact on the Russian economy is significant, with a potential $122 billion loss and a potentially devastating effect on the global oil market. The situation is expected to continue, with the possibility of more countries joining the sanctions against Russia, further exacerbating the crisis.
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