Ukraine is launching repeat attacks as repairs near completion, leading some plants to deliberately slow work to avoid wasting resources. Sanctions have blocked access to Western replacement parts for complex units like hydrocrackers, forcing Rosneft to rely on Chinese imports and Russian copies that are often incompatible. More than 1,000 drones hit Russia on Sunday, including a strike on a St. Petersburg oil export terminal while U.S. envoy Steve Witkoff was in the city. The International Energy Agency recently cut its outlook for Russian oil processing to 4 million BPD, a 30% drop from prewar levels.
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Rosneft Warns of Lasting Damage as Linked Bank Hits $8B Bad Loans
Commodities5 days ago
Internal reports at Russia's premier oil producer indicate that continuing air strikes could leave the firm with permanent structural deficits within a few months. Rosneft officials have privately cautioned that falling profits and rising debt are straining the company, while the linked Moscow Credit Bank is showing distress with $8 billion in problem loans. Damage assessments show the Ryazan refinery has been shut for more than half the time since May, the Tuapse plant has been offline since April, and the Syzran refinery has spent most of the last six months shut or operating at less than 33% capacity.
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