Russian Energy Minister Forecasts Stability in Oil Refining and Gas Production for 2025
The Russian Energy Ministry announced on Thursday that it anticipates stability in oil refining, natural gas, and coal production for the year 2025, consistent with expected levels for 2024, despite ongoing drone attacks on energy infrastructure in Russia.
This forecast was made by Energy Minister Sergei Tsivilev, who stated, "We expect that oil refining and the production of gas and coal will remain at the levels of 2024." However, the minister did not provide specific figures to support this estimate.
These comments come amid a Ukrainian campaign targeting Russia's energy infrastructure, which began last August, aiming to disrupt vital energy facilities such as oil refineries, storage facilities, and pipelines to undermine one of the key funding sources for the Russian military. Reports indicate that drones have attacked at least 17 significant refineries.
Industry sources cited by Reuters last month reported that Russian refineries, which were already operating below maximum capacity prior to the attacks, possess operational flexibility that allows them to mitigate some of the impacts of these strikes. This includes the ability to operate reserve units in both affected and unaffected facilities, as well as the rapid repair of damaged units to restore operations.
Russia plays a crucial role in the global energy market, ranking as the third-largest oil producer after the United States and Saudi Arabia, and is the second-largest exporter of crude oil worldwide. Additionally, Moscow holds the largest proven natural gas reserves globally. The frequency of Ukrainian attacks has prompted Russia to implement precautionary measures, including reducing fuel exports and enhancing air defense systems to protect its strategic facilities.
