Russia resumes oil exports at Novorossiysk after two-day shutdown caused by Ukrainian air assault

Russia resumed oil loadings at its key Black Sea port of Novorossiysk on 16 November following a two-day suspension caused by a Ukrainian missile and drone attack, according to Reuters. Ukraine struck the oil terminal and at least two other sites in the city overnight on 14 November.

Novorossiysk port resumes operations after shutdown

Oil exports were temporarily halted at Novorossiysk and the nearby Caspian Pipeline Consortium (CPC) terminal on 14 November after Ukraine launched what Reuters described as its most damaging attack so far on Russia’s main Black Sea crude export infrastructure in Novorossiysk. The pause affected 2.2 million barrels per day of crude — about 2% of global supply — and triggered a more than 2% surge in world oil prices on supply fears.

The Ukrainian strike damaged two oil berths at the port, temporarily forcing operations offline. A prolonged suspension would have required Russia, the world’s second-largest oil exporter, to shut oil wells — a step that could have significantly reduced its overall crude output.

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Reuters noted earlier that Russia’s oil processing output had fallen just 3% this year.

Reuters reported that the CPC terminal, which exports Kazakh crude via a Black Sea terminal, also briefly suspended loadings on Friday due to the Ukrainian strike. It resumed exports the same day.