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

Russian oil companies failed to fulfill about 60% of gasoline supply contracts on the St. Petersburg exchange between May and September, according to industry sources cited by Kommersant. Roughly 20% of deals collapsed outright into default or cancellation, while another 39% remain unfulfilled, with nearly a quarter of those already past the standard 30-day shipment window.

Lukoil and Rosneft accounted for the bulk of the shortfall, at 46% and 28% of unfulfilled contracts respectively, with a source attributing the damage largely to Ukrainian drone strikes on their refineries. Companies reportedly prioritized supplying defense and industrial customers first, leaving independent gas stations, the exchange's main buyers, ‘on one of the last lines’ of the list.

Russian law requires vertically integrated oil companies to funnel a portion of output to the exchange specifically to supply those independent stations. This marks the second wave of fuel shortages this year, following a similar bout of rising prices and station lines in June.

The full dispatch is available from the source below.