Kommersant: Russian oil companies failed to fulfill about 60% of gasoline exchange contracts — due to Ukrainian attacks on refineries

Between May and September, Russian oil companies reportedly failed to fulfill approximately 60% of gasoline supply contracts on the St. Petersburg exchange, according to reports from industry sources cited in the Russian business daily Kommersant. Twenty percent of the deals were entirely canceled, either due to defaults or cancellation, while an additional 39% remain unfulfilled.

Of these unfulfilled contracts, 24% exceeded the standard 30-day shipment period. The majority of these unfulfilled contracts were held by Lukoil (46%) and Rosneft (28%). Ukrainian drone attacks on refineries, as reported by a source to Kommersant, were largely responsible for the disruptions. The oil companies reportedly prioritized fulfilling state obligations, such as supplying defense and industrial enterprises, leaving gas stations at the bottom of their priority list.

Independent gas stations are the exchange's primary buyers of fuel. In August, Russia's second wave of fuel shortages began, triggered by Ukrainian drone strikes on oil refineries. This led to a rise in gasoline prices and the reemergence of long lines at gas stations, mirroring the situation from earlier in June.