🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Ukraine hits Russia's Volgograd oil refinery in latest drone attack- source

Published 02/03/2024, 11:24 AM
Updated 02/03/2024, 11:25 AM
© Reuters. FILE PHOTO: A general view shows the oil refinery of the Lukoil company in Volgograd, Russia April 22, 2022. Picture taken April 22, 2022. Picture taken with a drone. REUTERS

By Tom Balmforth

KYIV (Reuters) -Two Ukrainian attack drones struck the largest oil refinery in southern Russia on Saturday, a source in Kyiv told Reuters, detailing the latest in a series of long-range attacks on Russian oil facilities.

Local authorities in Russia said earlier that a fire had been extinguished at the Volgograd refinery following a drone attack. Oil producer Lukoil, which owns the refinery, later said the plant was working as normal.

The Kyiv source said the operation by the SBU security service struck the primary processing facility, without which the refinery could lose significant production capacity.

Ukrainian officials seldom take responsibility publicly for deep strike attacks on Russian territory.

The Volgograd refinery is the latest in a series of facilities to be targeted by drones. Kyiv sees such infrastructure as important for the Kremlin's war effort.

The source told Reuters such drone attacks would continue.

"By hitting oil refineries working for the Russian military-industrial complex, we not only cut off the logistics of fuel supplies for enemy equipment, but also reduce funds into the Russian budget," the source said.

The distance between the northeastern Ukrainian city of Kharkiv near the Russian border and the southern Russian city of Volgograd is more than 600km.

© Reuters. FILE PHOTO: A general view shows the oil refinery of the Lukoil company in Volgograd, Russia April 22, 2022. Picture taken April 22, 2022. Picture taken with a drone. REUTERS

Russia has been conducting regular long-range missile strikes on targets in Ukraine since the beginning of its full-scale invasion, prompting Kyiv to scramble for ways to close the gap on Moscow's more advanced military technology.

Ukraine has sought to spur innovation in drone technology and to support the production of long-range drones to allow it to strike back.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.