Ukrainian drone strikes on Russian oil refineries have led to fuel supply disruptions in over 10 regions, with Crimea experiencing a "logistical lockdown." While not a full-scale crisis, shortages are increasing, prices are rising, and experts warn of escalating problems if damaged refineries cannot resume operations.
Ukraine plans to increase military wages by one-third to 30,000 hryvnias and offer fixed-term contracts to boost recruitment. President Zelenskyy also aims to recruit more foreign volunteers. Meanwhile, Russia's Putin claims Ukrainian drone strikes aim to sow confusion and damage the economy, though he admits some economic damage.
President Putin admitted Ukrainian strikes are causing damage to Russia's economy and society but insisted they won't succeed in dividing the nation or crippling its economy. He vowed to escalate attacks on Ukrainian infrastructure in response and improve air defenses.
Russia is maximizing its oil export infrastructure and expects production to increase and return to previous levels as refineries resume normal operations, Deputy Prime Minister Alexander Novak stated at SPIEF.
Russia's President Putin blamed Ukraine for a deadly drone attack in Luhansk, vowing retaliation. Ukraine denied the claims, stating it targeted Russian military assets. Meanwhile, Czech President Pavel urged NATO to respond assertively to Russian provocations.
Venezuela has become India's third-largest crude oil supplier in May, overtaking Saudi Arabia and the US, as refiners seek cheaper heavy crude amid West Asia conflict disruptions. Imports from Venezuela surged to 417,000 bpd.
Ukrainian drones struck the Syzran oil refinery in Russia, over 800km inside the country, causing a fire and killing two people. President Zelenskyy stated this is part of a broader plan targeting Russian oil revenues amid escalating attacks.
A large chunk of the world’s sulfur comes from Persian Gulf oil refineries and gas plants and has been choked off at the Strait of Hormuz
In Zawiya, home to one of the oil-rich country’s biggest refineries, rival gangs clash over the trafficking of fuel and commercial goods into neighbouring Tunisia.
China ordered companies to ignore US sanctions against five oil refiners accused of buying Iranian crude, an unprecedented pushback against American financial measures less than two weeks before a presidential summit. The US action “violates international law and the basic norms of international relations”, China’s Ministry of Commerce said on Saturday. The sanctions cover a refinery in Dalian owned by Shanghai-listed Hengli Petrochemical, along with four independent “teapot” refineries –...
Ukraine says its drones have struck an oil refinery deep inside Russia, marking the latest in a series of attacks on oil facilities behind the front lines as Kyiv seeks to curb Moscow’s energy revenues used to fund the war.
Government request follows contingency planning to stop planes being grounded if Iran war supply shocks continueBusiness live – latest updatesBritish refineries have been asked to maximise jet fuel supply as part of government contingency planning, amid growing fears the Iran war will force planes to be grounded.Energy minister Michael Shanks said the government is closely monitoring UK jet fuel stocks and working with airlines, airports, fuel suppliers and other governments, as carriers face rocketing fuel costs as a result of the conflict. Continue reading...
The U.S. Treasury warned financial institutions they could face sanctions if they engage in dealings with Chinese refineries processing Iranian oil. The warning targets independent 'teapot' refineries that import Iranian crude, with China purchasing approximately 90% of Iran's oil exports. Treasury Secretary Scott Bessent said Iran could lose $170 million daily in revenue as storage capacity nears limit. Last week, the U.S. sanctioned one of China's largest teapot refineries, Hengli Petrochemical, along with four others.
A record armada of empty tankers is heading to the US as oil drillers and refineries prepare to profit from Donald Trump's war in the Middle East. Almost 30 super-sized vessels, each able to hold 2 million barrels, are contracted to load US crude destined for a global market facing its biggest supply crisis. US crude exports have climbed by a third to a record 5.2 million barrels per day after Iran blocked 10 million barrels of Gulf oil exports via the Strait of Hormuz. The crisis is accelerating a shift toward American and Latin American oil production while positioning China as the dominant 'electrostate' of the future.
The Viva Energy refinery provides about 10 per cent of Australia's fuel. Its chief, Scott Wyatt, chats to Alan Kohler about the company's future in the wake of the Geelong fire.
Sanctions affected Tuapse, Komsomolsk, Angarsk, Achinsk, Syzran, Ryazan and Afipsky refineries
Analysis examining US oil import statistics reveals the country remains a net importer of 2.2 million barrels per day in 2025, despite record production of 13.6 million bpd. US refineries were built for heavier sour crude from the Persian Gulf, not light shale oil, creating a chemistry mismatch. Persian Gulf imports (~490,000 bpd, 8% of imports) provide the medium sour feedstock essential for optimal refinery yields. The author argues US military actions against Iran have triggered price shocks pushing American petrol above $4/gallon.
Indian Oil Corporation Limited has assured that petrol and diesel supplies remain stable across Punjab, Himachal Pradesh, Jammu & Kashmir, Ladakh and Chandigarh despite Middle East conflict disruptions. The corporation holds 12 days of petrol and 16 days of diesel at depots, with retail outlets maintaining 13 days of petrol and 6 days of diesel stock. LPG supplies are steady though delivery timelines have increased from 2 to 6 days due to precautionary demand.
Ukraine will resume transit of Russian oil to Hungary via the Druzhba pipeline at noon on April 21, Hungarian Minister for European Union Affairs Janos Boka said. Supplies via Druzhba have been halted since January 27. Boka credited Hungary's blocking of a €90 billion EU loan for Ukraine as the reason for the resumption, stating 'The Hungarian strategy worked: Ukrainians ran out of money before we ran out of oil.'
