Russia back to shipping oil in Novorossiysk despite recent Ukrainian attacks
Sheskharis terminal in Novorossiysk is shipping oil again (Photo: Getty Images)
Oil prices fell after shipments resumed at the key Russian export hub in Novorossiysk. The terminal had been halted for two days due to attacks by Ukrainian drones and missiles on the Sheskharis oil terminal, Reuters reported.
Brent crude fell by 19 cents, or 0.3%, to $64.20 per barrel.
Meanwhile, US WTI crude dropped by 18 cents to $59.91 per barrel.
Both indices rose more than 2% on Friday, ending the week with modest gains after exports were halted at the port of Novorossiysk and the nearby Caspian Pipeline Consortium terminal, which together account for 2% of global oil supplies.
The day before, on November 16, Reuters reported that Novorossiysk and the nearby Caspian Pipeline Consortium terminal had resumed oil-loading operations. Tankers of Russia’s shadow fleet - Arlan-class Suezmax and Rodos-class Aframax - are waiting to be loaded.
Sources also noted that the Ukrainian attack on Novorossiysk damaged two oil berths. The strike on Novorossiysk was the most destructive attack on Russian oil export infrastructure in the Black Sea.
Attack on the oil terminal on November 14
Sheskharis is a large oil terminal in the port of Novorossiysk, owned by Transneft and Rosneft. The terminal handles 35–40 large tankers per month - equivalent to at least 3.5–4.5 million tons of crude oil, or up to 20% of Russia’s seaborne exports.
On the night of November 14, Ukraine’s Defense Forces struck the Novorossiysk Russian Navy base in Krasnodar Krai, Russia. Ukrainian missiles and attack drones also targeted and damaged port infrastructure in the city and the Sheskharis oil terminal.
Later, Russian media reported that oil exports from Novorossiysk were halted following the nighttime drone attack, and a state of emergency was declared in the city.
