
Russia's Novokuibyshevsk oil refinery halted operations after drone attacks, sources say
That was the first time a major Russian refinery had been attacked by a drone since March 2025.
It came after U.S. President Donald Trump last Monday set a 10-12-day deadline for Moscow to agree on a ceasefire with Kiev or face consequences, underscoring his frustration over the continuing 3-1/2-year-old conflict.
U.S. special envoy Steve Witkoff is expected to travel to Russia this week after his current visit in Israel.
The refining capacity of Novokuibyshevsk is 8.3 million metric tons of oil per year (or some 160,000 barrels per day).
Rosneft did not respond immediately to a request for comment.
According to the sources, the attack damaged the main primary oil refining unit CDU-11 at the Novokuibyshevsk refinery.
The refinery has two primary units: CDU-11 with a capacity of 18,900 metric tons per day, and CDU-9 with a capacity of 4,700 tons per day.
The refinery planned to stop CDU-9 for a major scheduled maintenance from August to early September.
According to the sources, the Novokuibyshevsk oil refinery was recently processing about 18,000 tons of crude oil per day.
Last year, the refinery processed 5.74 million tons of crude oil, produced 1.10 million tons of motor gasoline, 1.64 million tons of diesel fuel, and 1.27 million tons of fuel oil, according to industry sources.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
4 minutes ago
- Reuters
Canada airdrops aid into Gaza, says Israel violating international law
Aug 4 (Reuters) - Canada said on Monday it delivered humanitarian assistance through airdrops to Gaza, which has been under a devastating Israeli military assault for almost 22 months, with Ottawa again accusing Israel of violating international law. "The (Canadian Armed Forces) employed a CC-130J Hercules aircraft to conduct an airdrop of critical humanitarian aid in support of Global Affairs Canada into the Gaza Strip. The air drop consisted of 21,600 pounds of aid," the Canadian government said in a statement. The Canadian Broadcasting Corporation reported that it was Canadian Armed Forces' first humanitarian airdrop over Gaza using their own aircraft. The Israeli military said 120 food aid packages for Gaza's residents were airdropped by six countries, including Canada. The other five were Jordan, the United Arab Emirates, Egypt, Germany and Belgium. Canada said last week it plans to recognize the State of Palestine at a meeting of the United Nations in September, ratcheting up pressure on Israel as starvation spreads in Gaza. Canada also said on Monday that Israeli restrictions have posed challenges for humanitarian agencies. "This obstruction of aid is a violation of international humanitarian law and must end immediately," Canada's government said. The Israeli embassy in Ottawa had no immediate comment. Israel denies accusations of violating international law and blames Hamas for the suffering in Gaza. Israel cut off food supplies to Gaza in March and then lifted that blockade in May - but with restrictions that it said were needed to prevent aid from being diverted to militant groups. President Donald Trump also claimed Hamas militants were stealing food coming into Gaza and selling it. However, Reuters reported late last month that an internal U.S. government analysis found no evidence of systematic theft by Hamas of U.S.-funded humanitarian supplies. Israel says it is taking steps for more aid to reach Gaza's population, including pausing fighting for part of the day in some areas, allowing airdrops and announcing protected routes for aid convoys. The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked Israel, killing 1,200 and taking about 250 hostages, Israeli tallies show. Gaza's health ministry says Israel's subsequent military assault has killed over 60,000 Palestinians. It has also caused a hunger crisis, internally displaced Gaza's entire population and prompted accusations of genocide at the International Court of Justice and of war crimes at the International Criminal Court. Israel denies the accusations.


Reuters
6 minutes ago
- Reuters
Trading Day: Stocks bounce back, bonds more cautious
ORLANDO, Florida, Aug 4 (Reuters) - Investors shrugged off last week's worries over the U.S. economy to drive a powerful, tech-led rebound across global stocks on Monday, although U.S. Treasuries prices held onto Friday's gains, suggesting a fair degree of caution persists. More on all that below. In my column today I look at why rather than firing the head of the Bureau of Labor Statistics, President Donald Trump could have claimed that the weak jobs data and dramatic market reaction vindicated his stance that the Fed should cut rates. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today. Today's Key Market Moves Stocks bounce back, bonds more cautious After getting slammed on Friday by unexpectedly poor U.S. employment figures, U.S. and world stocks rebounded on Monday. Whether this is a short-term technical recovery or the resumption of the bull run of recent months remains to be seen. In isolation, the positive start to the week has been pretty impressive. Wall Street more than recovered the ground it lost on Friday, led by the Nasdaq and Russell 2000, as investors bet that both tech and small caps would be among the big winners in a lower interest rate world. The global recovery was probably overdue. The MSCI All Country index's rise on Monday snapped a six-session losing streak, its worst run in nearly two years. While Friday's slump in U.S. bond yields reflected deepening growth fears and contributed to the huge equity selloff, the further drift lower in yields on Monday supported equity sentiment. The feel good factor could prove fleeting though. The U.S.-centric issues that drove last week's selloff - growth fears, tariff concerns and unusually high levels of policy uncertainty - haven't disappeared. Trump said on Monday he will substantially raise tariffs on goods from India over its Russian oil purchases, while Switzerland says it is ready to make a "more attractive offer" to Washington to avert the steep 39% tariffs it is facing. Investors are increasingly nervous about political interference in independent U.S. institutions after Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer for allegedly rigging the jobs data. This comes amid Trump's verbal attacks on Fed Chair Jerome Powell for not cutting interest rates, and as he prepares to announce his nomination to replace Fed Governor Adriana Kugler, who surprisingly resigned on Friday. Looking ahead to Tuesday, the U.S. earnings calendar heats up again and purchasing managers index data will give an insight into how the service sectors in many of the world's major economies fared in July. Trump scores major own goal with labor official firing U.S. President Donald Trump's decision to fire a top labor official following weak jobs data obviously sends ominous signals about political interference in independent institutions, but it is also a major strategic own goal. Trump has spent six months attacking the Federal Reserve, and Chair Jerome Powell in particular, for not cutting interest rates. The barbs culminated in Trump branding Powell a "stubborn MORON" in a social media post on Friday before the July jobs report was released. The numbers, especially the net downward revision of 258,000 for May and June payrolls growth, were much weaker than expected. In fact, this was "the largest two-month revision since 1968 outside of NBER-defined recessions (assuming the economy is not in recession now)," according to Goldman Sachs. This sparked a dramatic reaction in financial markets. Fed rate cut expectations soared, the two-year Treasury yield had its steepest fall in a year, and the dollar tumbled. A quarter-point rate cut next month and another by December were suddenly nailed-on certainties, according to rate futures market pricing. This was a huge U-turn from only 48 hours before, when Powell's hawkish steer in his post-FOMC meeting press conference raised the prospect of no easing at all this year. Trump's constant lambasting of "Too Late" Powell suddenly appeared to have a bit more substance behind it. The Fed chair's rate cut caution centers on the labor market, which now appears nowhere near as "solid" as he thought. Trump could have responded by saying: "I was right, and Powell was wrong." Instead, on Friday afternoon he said he was firing the head of the Bureau of Labor Statistics, Commissioner Erika McEntarfer, for faking the jobs numbers. Trump provided no evidence of data manipulation. So rather than point out that markets were finally coming around to his way of thinking on the need for lower interest rates, Trump has united economists, analysts and investors in condemnation of what they say is brazen political interference typically associated with underdeveloped and unstable nations rather than the self-proclaimed 'leader of the free world.' "A dark day in, and for, the U.S.," economist Phil Suttle wrote on Friday. "This is the sort of thing only the worst populists do in the worst emerging economies and, to use the style of President Trump, IT NEVER ENDS WELL." It's important to note that major – even historic – revisions to jobs growth figures are not necessarily indicative of underlying data collection flaws. As Ernie Tedeschi, director of economics at the Budget Lab at Yale, argued on X over the weekend: "BLS's first-release estimates of non-farm payroll employment have gotten more, not less, accurate over time." It should also be noted that the BLS compiles inflation as well as employment data, so, moving forward, significant doubt could surround the credibility of the two most important economic indicators for the U.S. - and perhaps the world. Part of what constitutes "U.S. exceptionalism" is the assumption that the experts leading the country's independent institutions are exactly that, independent, meaning their actions and output can be trusted, whatever the results. Baseless accusations from the U.S. president that the BLS, the Fed and other agencies are making politically motivated decisions to undermine his administration only undermine trust in the U.S. itself. "If doubts are sustained, it will lead investors to demand more of a risk premium to own U.S. assets," says Rebecca Patterson, senior fellow at the Council on Foreign Relations. "While only one of many forces driving asset valuations, it will limit returns across markets." This furor comes as Fed Governor Adriana Kugler's resignation on Friday gives Trump the chance to put a third nominee on the seven-person Fed board, perhaps a potential future chair to fill that slot as a holding place until Powell's term expires in May. Whoever that person is will likely be more of a policy dove than a hawk. Policy uncertainty, which had been gradually subsiding since the April 2 'Liberation Day' tariff turmoil, is now very much back on investors' radar. What could move markets tomorrow? Want to receive Trading Day in your inbox every weekday morning? Sign up for my newsletter here. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias.


Daily Mail
6 minutes ago
- Daily Mail
Shipping giant Clarksons profits fall as Trump tariffs and turmoil in the Middle East hit demand
Shipping giant Clarkson suffered a hit to profits as trade tariffs and turmoil in the Middle East hit demand. Boss Andi Case blamed the 'highly complex global environment' after profit fell to £37.5million in the six months to June from £50.1million the previous year. Donald Trump's tariffs, followed by a chaotic 'shifting' of the levies, meant exporters held off shipping goods. Sales were down to £298million from £310million in 2024. The decline followed a warning in March that rising global tensions were likely to hit performance. It has also been affected by wars in Gaza and the wider Middle East, which caused many clients to pause long-term contracts.