Oil Exports From Russian Black Sea Ports Collapsed

• 4.12.2025, 14:57

Because of the drone attacks.

Oil exports through the port of Novorossiysk and the Caspian Pipeline Terminal (CPC) terminal fell about 1 million tons in November compared to plan as stormy weather in the Black Sea and drone attacks disrupted loading, three industry sources said.

Their data showed that the November schedule for transshipment of Urals, Siberian Light and KEBCO crude from Novorossiysk was expected to ship about 3.2 million tons, but actual exports amounted to about 2.5 million tons.

"Novorossiysk is still loading November shipments, their transshipment is expected to continue until December 7," one of the traders said.

Sources said exports of CPC Blend crude at the CPC terminal are also being delayed, with loading of two Suezmax-class tankers with a combined crude volume of about 300,000 tons postponed until December.

The delays are exacerbated by export capacity constraints facing Russia following recent attacks on Black Sea port infrastructure, including the Sheskharis terminal in Novorossiysk and the CPC terminal in Yuzhnaya Ozereyevka.

Sources said Russia's oil export plan for December is already substantial, and the additional volumes carried over from November could lead to further postponements of January deliveries.