Russian Energy Minister Expects Stability in Oil Refining Rates and Gas and Coal Production in 2025
The Russian Ministry of Energy predicted today, Thursday, that oil refining rates and natural gas and coal production will stabilize in the upcoming year 2025, equating to the expected levels for the current year 2024, despite the ongoing waves of drone attacks by Ukraine on energy infrastructure in Russia.
This expectation was expressed by Russian Energy Minister Sergey Tsivilev, as reported by the ministry's press service, stating: "We expect that oil refining operations and gas and coal production in 2025 will remain at the levels of 2024." The minister did not provide detailed figures to support this estimate.
These statements come in the context of a campaign of Ukrainian attacks deep within Russia that began last August, aimed at disrupting vital energy facilities such as oil refineries, storage depots, and pipelines, in an attempt to undermine one of the main sources of funding for the Russian war. According to reports, drones targeted at least 17 major refineries.
Industry sources quoted by Reuters last month indicated that Russian refineries, which were operating below their maximum capacity even before the attacks, possess operational flexibility that allowed them to absorb part of the impact of those strikes. This is due to their ability to operate backup units in both affected and unaffected plants, as well as the rapid repair of units that come under attack and returning them to service.
Russia is a key player in the global energy market, ranked as the third-largest oil producer after the United States and Saudi Arabia, and is considered the second-largest exporter of crude oil globally. Additionally, Moscow has the largest proven natural gas reserves in the world. The frequency of Ukrainian attacks has previously prompted Russia to take precautionary measures, including reducing fuel exports and enhancing air defense systems to protect its strategic facilities.
