Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Explainer: What do Russia’s oil giants own overseas?
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
Tax policy will shape Russia’s oil future
The consensus among market observers is that the country’s oil output will fall in the long term. Yet few recognise how Moscow’s shifting tax regime is designed to keep the next barrel commercially viable
The curious case of oil-on-water
The market is facing being drowned in excess crude, but one caveat is that a large chunk is due to buyers reluctant to snap up sanctioned barrels
Lukoil loses its growth prospects
The Russian firm made a significant attempt to expand overseas over the past two decades but is now trying to divest its global operations
Explainer: How the EU will wean itself off Russian gas
Questions remain about how the phase-out will be implemented and enforced in practice
Arctic LNG comes in from the cold
Beijing now appears prepared to accept discounted Russian LNG, even at the cost of heightened sanctions risk
Russia’s fuel crisis: Difficult but not catastrophic
International and opposition media claim that two-fifths of the country’s refining capacity is offline, but the true situation is not so dire
Hungary defends Russian energy use
Claims the country lacks alternatives to Russian oil and gas may be exaggerated, although higher costs and reduced security of supply are legitimate concerns.
ExxonMobil’s Russian door remains ajar
While the US oil major has declined to return given the sensitivities over Ukraine, Sakhalin 1 and other energy projects are temptations that will not go away
Russia may defy production capacity doubters
The OPEC+ producer could bring significant idle barrels to the market in the next 12 months
Drones hit the Novokuibyshevsk oil refinery in the Samara region of Russia
Refining Russia
Tim Crawford
10 October 2025
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Russia’s fuel crisis: Difficult but not catastrophic

International and opposition media claim that two-fifths of the country’s refining capacity is offline, but the true situation is not so dire

Russia is in the middle of a fuel crisis, caused mainly by a surge in the frequency and impact of Ukrainian drone strikes on its refineries. While some regions are struggling with shortages and wholesale prices have climbed, the situation is not as dire as some international and Russian opposition media claim. In particular, the widely circulated assertion that nearly two-fifths of Russia’s refining capacity is offline deserves scrutiny. Range, frequency, intensity Ukraine began intensifying drone attacks on Russian refineries and oil infrastructure in early 2024, as Petroleum Economist previously reported. The strikes initially aimed to disrupt supplies to the military and war-related indus

Also in this section
Letter from Dubai: Unsung hero gas finds its voice
Opinion
7 January 2026
No longer can the energy source be considered a sidekick to oil in the Middle East and neither should it step aside for less convincing alternatives
Outlook 2026: How critical mineral partnerships are shaping ASEAN’s energy transition
Outlook 2026
7 January 2026
The global race for critical minerals has become a defining feature of energy geopolitics, presenting the ASEAN region with both opportunity and risk
Outlook 2026: Building balance – A dual-track strategy in a changing energy landscape
Outlook 2026
7 January 2026
As global energy systems evolve to meet shifting demand and transition pressures, maintaining reliable hydrocarbon supply remains essential to energy security
Mideast gas sector needs $200b of investment
6 January 2026
Cash will be needed to boost production by 30% to meet region’s rapidly rising power demand, executives told the inaugural Middle East Gas Conference in December

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search