Recent developments highlight Ukraine’s persistent efforts to disrupt Russian commodity infrastructure, particularly storage terminals and refineries, as part of its broader war strategy. Since late 2024, tensions in the Black Sea have escalated, with drone strikes targeting vessels linked to Russian crude-loading facilities.
On January 13, two crude tankers fixed for Novorossiysk export point, were attacked in the Black Sea: the Maltese-flagged Matilda and the Liberian-flagged Delta Harmony. Both vessels reportedly lost AIS signals; at least one was chartered by U.S. oil major Chevron, according to public sources. Despite the incident, reports indicate the vessel was “stable and proceeding to a safe port.”
The CPC pipeline system, spanning 1,500 km and backed by shareholders including Kazakhstan’s KazMunayGas, Russia’s Lukoil, and U.S. majors Chevron and ExxonMobil, remains a critical export route. Despite repeated strikes, including a November 29 attack on CPC’s main moorings, crude flows have shown remarkable resilience. Wood Mackenzie tracking data reveals:
- December 19 peak: 1.28 million bpd
- December 26: 1.1 million bpd
- January 2 drop: 684,000 bpd (down 35% WoW)
- Recovery by Jan 9: +51% WoW, adding 346,784 bpd
Tracking CPC activity through H2 2025 and January 2026 shows intermittent disruptions but steady recovery. Month-over-month, CPC flows have risen 20% since November, supported by a 14% increase across all Russian export facilities. This underscores the adaptability of Russian infrastructure management, even under sustained pressure.
Continue tracking Russian grades with Wood Mackenzie’s Russian Waterborne Crude Report.
