Ukraine Targets Russia’s Key Black Sea Oil Port

Ukraine hit with drones overnight on Wednesday infrastructure in Novorossiysk, which is Russia’s key oil terminal in the Black Sea, in attacks that killed four people and reportedly sparked a fire at a fuel oil terminal at the port.

Ukrainian drones hit buildings in and near Novorossiysk early on Wednesday, the city’s mayor Andrey Kravchenko said on his Telegram channel, adding that four civilians were killed and civil infrastructure was damaged.

Ukraine’s Robert “Magyar” Brovdi, Commander of the country’s Unmanned Systems Forces (USF), confirmed a strike on the naval base in Novorossiysk on the night of September 8-9, which destroyed Russian military vessels, including missile carriers.

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The overnight attack caused a fire at a fuel oil terminal in Novorossiysk, Ukrainian media report, citing social media channels.

Over the past year, Ukraine has targeted and hit Russia’s key Black Sea oil port multiple times as it aims to stifle Russian oil exports and revenues for the Kremlin.

Some of the attacks have caused damages that necessitated temporary suspension of oil loadings at Novorossiysk and the nearby export terminal of the Caspian Pipeline Consortium (CPC), which loads oil from Kazakhstan for exports from the Black Sea.

The 1,500-kilometer CPC pipeline transports crude from Kazakhstan’s giant Tengiz oilfield across southern Russia to the Black Sea port of Novorossiysk and carries more than 80% of Kazakhstan’s crude exports. International producers including Chevron and ExxonMobil rely on the route to move Tengiz production to global markets.

Ukraine has also frequently targeted Russia’s key northern port of Ust-Luga, the top Russian port for exports of oil and other commodities from the Baltic Sea.

In one of the latest attacks last week, a massive Ukrainian drone attack at the Ust-Luga oil export terminal sparked a fire at the site as Ukraine continues to target Russian refineries and energy export infrastructure.

In addition, Ukrainian strikes at Russian refineries, including deep into Russia’s territory, have created a fuel crisis in Russia, which has extended its ban on diesel exports until the end of September, further tightening the global middle distillate market.

By Charles Kennedy for Oilprice.com

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