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Explainer: What do Russia’s oil giants own overseas?
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Fire at an oil depot in Russia’s Bryansk region caused by a Ukrainian drone
Russia Ukraine Politics
Tim Crawford
26 February 2024
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Russian refining under siege

Ukraine is striking deeper into Russian territory as it seeks to disrupt its enemy’s oil supplies, but the impact remains limited

The first two months of 2024 have seen Ukraine increase the range and frequency of drone attacks on Russian oil infrastructure, but while refining runs have taken a temporary hit, the impact on fuel supply should not be overstated. Ukraine has ramped up drone strikes against Russian oil refineries significantly in recent months. These attacks aim to divert military and economic resources away from the war, gain knowledge of Russian air defence systems and improve on drone designs and tactics. The impact on Russian fuel production should not be overstated, however. The drones being used carry only small payloads, and many of the facilities targeted so far were originally built during the Cold

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Explainer: What do Russia’s oil giants own overseas?
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Letter from Saudi Arabia: US-Saudi energy ties enter a new phase
Opinion
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
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2 December 2025
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1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation

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