The Demolition of Russia's Economy

https://oilprice.com/Energy/Crude-Oil/Russian-Oil-Refining-Capacity-Plummets-145.html

Russian Oil Refining Capacity Plummets 14.5%

By Tsvetana Paraskova - Sep 13, 2024, 7:00 AM CDT
  • Russia's oil refining capacity has decreased by 14.5% this month due to Ukrainian drone attacks and technical outages.
  • The decrease in refining capacity could lead to higher crude oil exports as Russia lacks sufficient storage space.
  • Russia has extended its ban on gasoline exports until the end of 2024 to maintain domestic supply stability.
Reuters calculations showed on Friday that the share of Russia’s refining capacity that is offline this month has jumped from August to 14.5% of all processing capacity amid Ukrainian drone attacks and planned and unplanned technical outages.

According to estimates based on data from industry sources compiled by Reuters, the Russian oil refining capacity that’s now offline jumped by 34% in September.

As more of Russia’s refining capacity is now offline, this could lead to higher crude oil exports as Russia doesn’t have too much storage space to store crude in tanks.

Market sources told Reuters earlier this week that the September loading plans for the oil export terminals on Russia’s Baltic ports have been revised slightly higher.

Apart from some seasonal maintenance, the Russian refining capacity has seen more idle units because of Ukrainian drone attacks on Russian oil and energy infrastructure.

Energy installations have been key targets in the conflict by both sides.

Ukrainian attacks on Russian refineries and other energy infrastructure have become a fixture this year, with drones the weapon of choice for conducting the strikes.

Ukraine continues to target refineries in Russia and some of these attacks have affected further product supply from Russian refineries.

In recent months, Russia has seen higher-than-expected maintenance and repairs at its refineries after Ukraine stepped up its drone attacks early this year on the Russian refining capacity. In addition to unplanned repairs to fix damages from the drones, some refineries have been undergoing planned maintenance. This dragged down Russia’s fuel output and exports earlier this year.

In the middle of August, the Russian government said that Moscow is extending its ban on gasoline exports from October to the end of December 2024, as it seeks to keep domestic supply stable amid seasonal demand and scheduled repairs at refineries.
 
This should make workplaces more interesting.

Putin demands Russians have sex at work after country’s birth rate plummets
https://metro.co.uk/2024/09/15/vladimir-putin-demands-russians-sex-work-fall-birth-rate-21608541/


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Possible reason for Russian birth rate issues:

Possible-Reason.jpg
 
https://oilprice.com/Latest-Energy-...ns-Sanctions-Busting-Oil-Trading-Kingpin.html

London Targets Tehran’s Sanctions-Busting Oil Trading Kingpin

By Alex Kimani - Sep 16, 2024, 11:30 AM CDT

The UK government is cracking down on oil-trading kingpin Hossein Shamkhani’s secretive oil trading empire, known for moving Iranian and Russian crude around the world. According to Bloomberg, Companies House, the UK corporate register, issued notice two weeks ago that London-based Nest Wise Trading Ltd. is to be dissolved within months due to the entity’s failure to provide sufficient information to regulators, with UK authorities linking it to Shamkhani.

Shamkhani, aka Hector, is the son of Ali Shamkhani, advisor to Supreme Leader Ali Khamenei. His Dubai-based Milavous Group Ltd is alleged to have raked in billions of dollars for illegally selling Iranian and Russian crude around the world. Washington and London have been targeting entities that they suspect have been sidestepping oil-trading restrictions.

“Unless cause is shown to the contrary, the Company will be struck off the register and dissolved not less than 2 months from the date shown above,” UK Companies House said in its notice about Nest Wise.

According to Companies House’ records, Nest Wise’s business includes the sale of petroleum and petroleum products, fuels, ores, metals and industrial chemicals. The filings also show that during the London entity’s incorporation, Dubai-based Nest Wise Petroleum LLC was the sole shareholder listed.

Last month, Bloomberg published an exposé revealing how Shamkani’s secretive network has been operating, dubbing the Iranian tycoon ‘The Kingpin Of Iran’s Oil Empire’.

“Companies in his network also sell oil and petrochemicals from non-sanctioned nations and sometimes mix crude from various jurisdictions, so even buyers who test barrels may not be able to identify the country of origin, the people said,” Bloomberg reported.

Bloomberg has reported that Washington has already sanctioned ships believed to be controlled by the Iranian businessman. His father Ali was sanctioned by the Trump administration in early 2020, although Shamkhani previously told Bloomberg that his father “never had nor does he have anything to do with my business activities.”

Ali served as naval commander for the Islamic Revolutionary Guard Corps, defense minister and then Secretary of Iran’s Supreme National Security Council.
 
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