The oil terminal Shekharis in Novorossiysk — Russia’s largest facility for oil exports through the Black Sea — has suspended tanker loading for several days amid a rise in Ukrainian drone attacks in the region.
According to Bloomberg, the terminal has not loaded oil cargoes since the morning of July 22. This is supported by satellite images and vessel movement data. While bad weather can occasionally disrupt operations, a storm warning for Shekharis was issued only late Thursday evening, two days after the last loading was completed. Any prolonged disruptions at the terminal could heighten tensions in global oil markets, which are already strained by the conflict in the Middle East. Bloomberg estimates that this year, Shekharis has been exporting an average of about 650,000 barrels of oil per day.
Impact on Other Terminals and Reactions
This week, drone attacks also affected tanker loading at the nearby CPC terminal. The Russian company Transneft, which operates the Shekharis terminal, did not respond to a request for comment.
Escalation of Tension in the Black Sea
The suspension of operations at the terminal follows a significant increase in Ukrainian strikes on ships in the Black Sea and the Sea of Azov, as Ukraine seeks to pressure the Kremlin into negotiations. Moscow has warned all vessels in its exclusive economic zone in the Black Sea that navigation is perilous due to potential threats from Ukrainian air and sea drones.
Source: Bloomberg
