NOVATEK-Ust-Luga
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Russia's oil and gas tax revenues drop 17% in nine months despite higher prices
Russia's oil and gas tax revenues fell 17% in the first nine months of 2026, reaching 5,47 trillion rubles ($64.43 billion) compared to 6,61 trillion rubles a year earlier. The decline came even as Urals crude prices more than doubled from pre-war levels, driven by falling production, export constraints and Ukrainian drone strikes on refineries.
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Ukraine's General Staff says two major Russian oil refineries halted after Ukrainian strikes
Ukraine's General Staff confirmed on 4 September that two large Russian oil refining enterprises — LUKOIL-Nizhegorodnefteorgsintez in Kstovo and the NOVATEK-Ust-Luga complex in Leningrad Oblast — have stopped operating after being hit on 26 August and 1 September respectively. The General Staff said both facilities supply the needs of the Russian armed forces.
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Ukrainian drones hit Novatek-Ust-Luga oil complex in Leningrad Oblast, sparking large fire
Ukrainian forces struck the Novatek-Ust-Luga oil-processing complex in Russia's Leningrad Oblast overnight from August 31 to September 1, hitting key refining and technological equipment and triggering a large-scale fire. The Main Intelligence Directorate of Ukraine's Ministry of Defence reported the attack, which was carried out using drones. It was the second reported Ukrainian strike on the same facility in August.